The following ratings changes were generated on Friday, Nov. 7.
We've downgraded AstraZeneca(AZN Quote), which discovers, develops, manufactures and markets prescription pharmaceuticals, biologics and vaccines from buy to hold. Strengths include its increase in net income, revenue growth and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a decline in price during the past year.
The net income growth of 28.8% from the same quarter one year ago has significantly exceeded that of the S&P 500 and the pharmaceuticals industry. However, despite its revenue growth of 7.6%, the company underperformed the industry average of 9.9%. AstraZeneca has improved earnings per share by 32.2% in the most recent quarter compared with the same quarter a year ago. ...
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