2026년 2월 9일 · Unknown · financial · 출처 Yahoo Finance
Citi lifts GSK target price but keeps neutral stance after rally Proactive uses images sourced from Shutterstock
Citi has raised its price target for GSK PLC (LSE:GSK, NYSE:GSK) to £22.50 while maintaining a 'neutral' rating, citing a sharp rally driven by improving investor sentiment.
The broker said full-year 2025 earnings per share were 2% ahead of consensus, with constant exchange rate guidance for 2026 broadly in line with expectations.
Citi trimmed its 2026 and 2027 earnings forecasts by 1% to 2%, reflecting foreign exchange headwinds and vaccine assumptions, leaving long-term earnings largely unchanged.
The shares have risen strongly from a low price to earnings multiple after results, which Citi attributed to continued operational delivery and growing confidence in strategic execution.
The broker said investors had responded positively to new chief executive Luke Miels’ focus on accelerating research and development and pursuing lower-risk business development.
Citi highlighted recent activity such as the deal with RAPT Therapeutics and management’s efforts to underpin a £40bn revenue target for 2031 with flat margins through the dolutegravir loss of exclusivity period.
The broker said more pipeline progress would be needed to fully deliver the sales and margin ambitions.
Citi pointed to momentum in research and development, including multiple phase III starts and potential new pivotal trials flagged for 2026 and 2027.
The shares were flat at 2,205p.
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