AstraZeneca shares were one of the biggest risers on the FTSE 100 index on the London Stock Exchange on Monday, thanks to a positive note from Berenberg, which said it had raised its sales forecasts for the pharmaceutical group.

In a note, Berenberg was more optimistic about the laboratory's business, saying it expected annual sales of $74 billion by 2030, equivalent to 11.8 pence more per share.

The analyst points out that this figure is $6 billion below the Group's 2030 target of $80 billion a year.

Against this backdrop, the intermediary - who maintains his buy recommendation on the stock - indicates that he has raised his price target from 130 to 150 pence, revealing a potential upside of around 20%.

Shortly before 1:00 pm (local time), the stock was up 0.4%, while at the same time the FTSE index was down around 0.3%.

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