DB upgrades Lundbeck to 'buy' on promising drug prospects in 2024

H Lundbeck A/S

13/02/2024 10:42

** Deutsche Bank upgrades Lundbeck  HLUNb.CO  to "buy" from
"hold", seeing positive prospects for the Danish drugmakers
products Vyepti and Rexulti by 2024
   ** The company has achieved "a substantial amount on
commercial and development front" over the last 1.5 years as the
broker sees it
   ** DB raises Lundbeck's price target by 8% to DKK 42
   ** "We believe that the outlook from here is not fairly
reflected in the current low-DKK30s price", the broker says,
adding that current price is likely to be a floor "that we do
not believe will be crossed any time soon"
   ** The broker expects the stock to be trading closer to the
DKK40+ mark by the end of the year
   ** Out of 13 analysts that cover Lundbeck, four rate it
"strong buy" or "buy", eight "hold", and one "sell" or "strong
sell"
** The stock is up around 4.4% at 10:41 GMT

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