AstraZeneca downgraded as analysts highlight ‘underwhelming' year end

AstraZeneca PLC (LSE:AZN) faced a blow on Friday after Deutsche Bank analysts downgraded the pharmaceuticals giant on what they labelled a “thoroughly disappointing” end to 2023. Analysts wrote in a note that they saw shares in AstraZeneca falling over 300p on Thursday’s closing price to 9,500p, compared to previous guidance of a rise to 11,000p. This was coupled with a rating downgrade from ‘hold’ to ‘sell’ for AstraZeneca after the firm failed to impress with full-year results on Thursday. “Cash flow was ...