Pfizer Inc., the world's largest pharmaceutical company, is struggling to find growth. Just like many of its peers, the company is suffering as sales of legacy drugs slide due to the loss of exclusive manufacturing rights.
Analysts at Berenberg Bank raised their price target on shares of GlaxoSmithKline plc from GBX 1,540 ($23.11) to GBX 1,620 ($24.31) and gave the company a hold rating in a research note on Friday, January 23rd.
If you were to ask investors at the beginning of the year whether you should invest in GlaxoSmithKline (LSE: GSK) or AstraZeneca (LSE: AZN), I think most would have picked the former rather than the latter.
You probably know everything about GlaxoSmithKline (LSE: GSK) (NYSE: GSK.US) by now: a bribery scandal in China, falling earnings and a patent cliff have all weighed on its equity valuation in recent times.