President-elect Donald Trump’s promise that Robert F Kennedy Junior (RFK Jr) will take on a “big role” in shaping health policy could be a positive for psychedelics given RFK Jr’s well-documented support of this drug class, analysts at Jefferies believe.
“RFK Jr seems positively inclined and sounds motivated to help foster psychedelic drug development,” analysts wrote in a note, highlighting that psychedelics have reportedly helped his family and friends recover from trauma, severe depression and obsessive-compulsive disorder.
Bank of America analysts have upgraded their rating on iHeartMedia (NASDAQ:IHRT) after the media and radio company announced an agreement to restructure its outstanding debt.
The company last week revealed it has entered into a transaction support agreement with a group of debt holders to refinance at least 80% of its outstanding term loan and notes to extend maturities by three years.
Recent trial failures over at pharma giant AbbVie Inc have created a window of opportunity for competitor Bristol-Myers Squibb Co (NYSE:BMY, ETR:RM, OTC:BMYMP), is analysts at UBS are to be believed.
AbbVie stock took a $38 billion hit on Monday after the company revealed that Phase 2 trials of its emraclidine schizophrenia treatment have failed to meet their primary endpoint objectives.
All all-time high market valuation has not dissuaded Bank of America (BoA) from maintaining a ‘buy’ rating on Walmart Inc (NYSE:WMT, ETR:WMT) ahead of the retail giant’s third-quarter results.
BoA expects adjusted earnings per share (EPS) of $0.52 and a 3.5% increase in comparable US sales for the quarter.
Luxury trends in the past three months have been worse than expected due largely to Chinese consumers spending turning negative, says JP Morgan.
No one was immune, including the most defensive and highest quality players, it adds and little respite is predicted for the Christmas run-in, though US demand might rally a little post-election.
GSK PLC (LSE:GSK, NYSE:GSK) looks undervalued, but the problem is that there is nothing on the horizon to change that perception according to analysts at US bank Jefferies.
Downgrading its investment rating to 'hold', Jefferies said that the spate of good news - favourable Zantac settlement, robust performance of Specialty, and pipeline successes – has been swamped by concerns about vaccines Shingrix (Shingles) and Arexvy (RSV).
British Gas owner Centrica PLC (LSE:CNA) ticked higher after analysts Jefferies said the recent weakness in the share price has been overdone with all its key operational metrics expected to rise this year.
The US bank said it has upgraded forecasts this year for underlying profits/earnings forecasts by 4%/3% on the assumption of marginally higher nuclear power output, gas consumption volumes and commodity prices compared to August.
Jefferies analysts have doubled down on backing for Drax Group (LSE:DRX) after the biomass power generator laid out expectations for profit to top £1 billion this year.
Drax surged on Tuesday after reporting adjusted earnings would hit the top end of guidance for £993 million to £1.04 billion, which Jefferies noted would beat consensus.
Shares in DCC PLC (LSE:DCC) rose 15% following a strategic update revealing a shift in focus to its energy business, which the company sees as its highest-growth area.
In line with this new direction, it announced plans to sell its healthcare division by 2025 and is evaluating strategic options for its technology arm over the next two years.