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Fly News Breaks for March 22, 2018
GSK
Mar 22, 2018 | 04:51 EDT
Morgan Stanley analyst Vincent Meunier upgraded GlaxoSmithKline to Equal Weight and raised his price target for the shares to GBP 14 from GBP 13. The company's capital allocation strategy and operational repositioning show "clear signs of improvement," Meunier tells investors in a research note. Further, the analyst believes comments by the CEO suggest a large consumer deal is less likely than several months ago, which he believes reduces the risk of a dividend cut.
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