Barclays downgrades Haleon to 'equalweight', says question marks over US persist

(Sharecast News) - Barclays downgraded GSK's consumer health spinoff Haleon on Tuesday to 'equalweight' from 'overweight' as it said questions marks persist over the US and there are "a few new clouds on the horizon". The bank noted that the US accounts for 34% of sales and said it is seeing slower category growth and destocking.

"Haleon is overweight declining US drug stores," it said, adding that the US was the reason Haleon lowered its 2025 organic sales growth guidance to around 3.5%. Barclays said it still sees short-term risks.

"Haleon has a new US head but we move to the sidelines as we await the plan," it said.

At 0915 BST, the shares were down 2.8% at 346.78p.