Barclays maintains its 'overweight' recommendation on AstraZeneca, with a price target lowered from £135 to £125, in the wake of its 20% lowered 2024 EPS guidance for the British pharmaceutical company.

"The last time AstraZeneca moved this much on a business point (third quarter 2021), the scale of the EPS disappointment and subsequent downgrades was much greater", notes the broker after last week's publication.

Barclays adds that the share is down 7% since publication, and stands at a 52-week low. We think this is a convincing entry point for a blue-chip company", he concludes.

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