May 23, 2013

GSK shares downgraded by UBS

Shares in pharmaceutical giant GSK have been downgraded by UBS. The bank has downgraded GSK shares to neutral from a previous buy rating.

Despite strong performance since 2011, UBS has taken to downgrade the stock for a number of reasons.

Analysts at the bank believe GSK has less score for performance versus peers and has reduced its sales forecast for the company by 2% in 2013.

Its target price has been reduced to 1525p by the bank.

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