UBS confirms its sell recommendation on the stock, with a target lowered to 9900 pence (from 10,700 pence) following the company's Q4 2023 results.

' The fourth quarter has raised investor concerns about cost acceleration. We continue to see gross margin, increased R&D as a pressure on margins relative to consensus over time' says the analyst firm.

' We expect another year of strong growth in 2024, driven by the continued adoption of our medicines in all countries ' said CEO Pascal Soriot. AstraZeneca expects 2024 sales and 2024 adjusted EPS to rise by 10-14%.

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