Citigroup Inc. Reiterates “Buy” Rating for GlaxoSmithKline plc (GSK)
GlaxoSmithKline plc (LON:GSK)‘s stock had its “buy” rating restated by research analysts at Citigroup Inc. in a research note issued on Wednesday. They presently have a GBX 1,800 ($23.50) price objective on the stock. Citigroup Inc.’s price objective points to a potential upside of 6.13% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Beaufort Securities restated a “buy” rating on shares of GlaxoSmithKline plc in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. restated a “buy” rating and issued a GBX 1,800 ($23.50) price objective on shares of GlaxoSmithKline plc in a research report on Tuesday, July 12th. Jefferies Group raised shares of GlaxoSmithKline plc to a “buy” rating and raised their target price for the company from GBX 1,650 ($21.54) to GBX 2,000 ($26.11) in a research note on Thursday, July 14th. Bryan, Garnier & Co reaffirmed a “buy” rating on shares of GlaxoSmithKline plc in a research note on Thursday, July 28th. Finally, HSBC reaffirmed a “buy” rating and issued a GBX 1,970 ($25.71) target price on shares of GlaxoSmithKline plc in a research note on Monday, September 12th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. GlaxoSmithKline plc currently has an average rating of “Hold” and a consensus price target of GBX 1,676.44 ($21.88).
Shares of GlaxoSmithKline plc (LON:GSK) opened at 1682.50 on Wednesday. The firm’s market capitalization is GBX 81.79 billion. GlaxoSmithKline plc has a 52 week low of GBX 1,277.25 and a 52 week high of GBX 1,716.50. The stock has a 50 day moving average of GBX 1,645.12 and a 200-day moving average of GBX 1,547.38.
The firm also recently announced a dividend, which will be paid on Thursday, October 13th. Stockholders of record on Thursday, August 11th will be paid a dividend of GBX 19 ($0.25) per share. The ex-dividend date is Thursday, August 11th. This represents a dividend yield of 1.12%.
In related news, insider Witty,Sir Andrew P sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of GBX 1,693 ($22.10), for a total value of £169,300 ($220,989.43). Also, insider Slaoui,Moncef purchased 28 shares of GlaxoSmithKline plc stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of GBX 2,208 ($28.82) per share, for a total transaction of £618.24 ($807.00).
About GlaxoSmithKline plc
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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