If you’re looking for a solid growth story in the pharma sector, AstraZeneca PLC (LSE:AZN) should be on your radar.
Berenberg’s latest update paints a bright picture, highlighting some exciting pipeline readouts that haven’t yet made their way into the share price.
The bank has bumped up its 2030 revenue forecast to nearly $79 billion, inching closer to AstraZeneca’s own ambitious $80 billion target.
The key drivers? Promising data from their breast cancer drug camizestrant, which has seen its valuation jump by 15%, and strong results from other treatments like Enhertu and a new blood pressure med, baxdrostat.
What makes AstraZeneca attractive is not just growth but also improving profits and cash flow, alongside a decent dividend yield of 2.3%.
The shares are trading on a modest price-to-earnings ratio compared with peers, which means you’re getting good growth potential without paying a hefty premium.
Berenberg says 'buy' up to £142 a share, which is a 37% premium to the current price of £103.32.