Jefferies said it still regards GSK’s fundamental value as “compelling,” adding that its 2027+ estimates for sales and profits remain above consensus. It noted, however, that it now sees overhangs for Arexvy and Shingrix, “more subdued” growth ...

Jefferies analyst Peter Welford downgraded GSK (GSK) to Hold from Buy with a price target of $39.50, down from $53. The firm finds it “frustrating” that despite the favorable Zantac settlement, robust performance of GSK’s Specialty unit,