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Actionable news in AZN: ASTRAZENECA PLC,

Goldman Sachs Downgrades AstraZeneca To Sell, Cites High Pipeline Expectations

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The valuation of AstraZeneca plc (ADR) AZN shares “skews the risk-reward against investors,” Goldman Sachs’ Keyur Parekh said in a report. The analyst downgraded the rating for the company from Neutral to Sell, while reducing the price target from 4,400p to 3,700p.

Expectations For 2016-2018

In view of AstraZeneca’s underlying cash generation, existing leverage and commitments to capex and dividend, there seems to be limited balance sheet flexibility to...