Reaction to AstraZeneca PLC (LSE:AZN)'s presentations at the annual American Society of Clinical Oncology conference was broadly positive following of sessions with analysts and clinicians.
Eye-catching was the claim around Tagrisso, which was hailed as "practice changing" when administered to lung cancer with a certain mutation of the disease. Data showed a greater than 80% chance the disease would not progress. AZ also provided updated results for Enhertu, for breast cancer.
City number crunchers are still assessing how the slew of information shared on Monday factors into AZ's bold revenue projection which sees the Anglo-Swedish giant turning over $80bn by the end of the decade.
Citi continues to rate AZ stock a 'high conviction buy'. " With a bull-bear valuation range of £163-106 [per share], and clear evidence of pipeline momentum, we remain constructive," it said.
Stifel, meanwhile, repeated its 'buy' and £137 price target.