On Monday, Berenberg announced that it had raised its price target for AstraZeneca shares from 130 to 150 pence, indicating a potential upside of around 20% from current levels.

In a note, the analyst explains that he is more optimistic about the laboratory's business, saying that he expects annual sales of $74 billion by 2030, equivalent to 11.8 pence more per share.

The intermediary - who maintains his buy recommendation on the stock - points out that this figure is six billion dollars below the Group's 2030 target of 80 billion dollars a year.

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