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Have AstraZeneca's shareholders blown it?
by Elsa Buchanan on May 20, 2014 at 07:24
'Until then there is a chance that major AstraZeneca shareholders, many of whom Pfizer are said to have spoken to during the process so far, could encourage the AstraZeneca board to reconsider.’
While analysts at Citigroup and Deutsche Bank reiterated a 'buy' and 'hold' rating on shares of AstraZeneca respectively last week, the latest recommendation came from Credit Suisse before the weekend, with a 'neutral rating. Societe Generale also issued a 'hold' rating on the stock.
Still, closing prices on Monday showed AstraZeneca was down 11.11% on the day at £41.21 - far from the £55 offer - down as much as 14.5% earlier. Meanwhile, the stock is still up 18.11% over one year versus 1.11% gain on FTSE 100.
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