AZN - The Path to 2030 Revenue of >$80bn (BUY, TP £140 [£125], 12pgs)
There has been much investor discussion of the upside potential to consensus that could happen as a result of new long-term revenue guidance at the CMD next Tuesday. We show on a product-by-product basis how Total Revenues could exceed $80bn by 2030. This would imply a 25% U/G to consensus revenue forecasts & considerably more to EPS. We do however caution investors that to get to this revenue forecast, it will require considerable R&D investment and we do not believe that consensus has factored this in. However, we upgrade our PT to £140 to reflect the upside risk.For access to the full note, please contact Naresh Chouhan ( )
AstraZeneca is a holding company. Through its subsidiaries, Co. operates as a biopharmaceutical company engaged in discovering, developing, manufacturing and commercializing its pipeline of small molecule and biologic prescription medicines, including targeted business development through collaboration, in-licensing and acquisitions. Co. is focused on three main therapy areas: Oncology, Cardiovascular and Metabolic Diseases, and Respiratory. Co. is also selectively active in autoimmunity, infection and neuroscience. In addition, Co. works across small molecules, oligonucleotides and other drug platforms, as well as biologic medicines.
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