Leerink views Lilly and Sarepta as defensive stocks in turbulent market
06/08/2024 13:36
** Brokerages Leerink Partners says Eli Lilly LLY.N and
Sarepta Therapeutics SRPT.O are among stocks it expects to
outperform the broader market in "this turbulent period" of
recession concerns
** Brokerage expects strong performance from the weight-loss
and diabetes drug maker LLY on Wed, when it reports its earnings
** SRPT is a "a potential haven for investors seeking
downside protection in a choppy market" due to potential of
blockbuster sales from its Duchenne gene therapy Elevidys -
Leerink
** Brokerage also expects AstraZeneca AZN.L , McKesson
MCK.N , Cencora COR.N and Thermo Fisher Scientific TMO.N to
outperform
** Merck MRK.N , Vaxcyte PCVX.O and Bruker BRKR.O are
among cos that are "worth revisiting now" as the current
sell-off is a near-term opportunity to buy these stocks which
had faced pressure recently due to difficult newsflow or share
performance - Leerink
** BMO Capital Markets says SRPT, besides CRISPR
Therapeutics CRSP.BN , Biomarin BMRN.O and Legend Biotech
LEGN.O are among companies that are "undervalued" for their
strong product revenue which could provide protection for sharp
decline
** Global stock markets saw a decline in the last session as
weak economic data raised worries of a U.S. recession
(Reporting by Leroy Leo in Bengaluru)
((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))