HSBC Downgrades AstraZeneca Amid Clinical Trial Failure and Revised Outlook
HSBC has downgraded its rating for AstraZeneca from 'buy' to 'hold', citing a less attractive risk-reward balance following the company's recent clinical trial failure. The bank also reduced its target price by over 16%, reflecting concerns about potential impacts on investor confidence and future R&D performance.
Topics: clinical trials investment downgrade pharmaceuticals