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Broker views: Pharma and banking

17 May 2017 15:44

Jefferies has double downgraded its investment rating on Hikma Pharmaceuticals (LON:HIK) and moved straight to underperform from buy, stating that US Generics Advair delay a significant setback.

The broker added: "We expect a cautious IMS on May 19. Although momentum in injectables remains robust, we believe the delay is likely to act as a serious drag to sentiment until the US business turns around; hence our double downgrade."

Jefferies lowered its price target to 1,450p per share from 2,162p.

Meanwhile, Credit Suisse upgraded its recommendation on Virgin Money (LON:VM.) to outperform (from neutral), believing concerns about the credit card business, causing the recent underperformance, are overdone.

Nevertheless, analysts left their target price unchanged at 345p per share.

At 3:44pm:

(LON:HIK) Hikma Pharmaceuticals PLC share price was -53.5p at 1712.5p

(LON:VM.) Virgin Money Holdings UK Plc share price was -0.85p at 305.15p

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