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Fly News Breaks for January 16, 2020
GSK
Jan 16, 2020 | 05:40 EDT
Barclays analyst Emmanuel Papadakis downgraded GlaxoSmithKline to Underweight from Equal Weight with a 1,650 GBp price target. 2020 looks set to be a much tougher "investment year" of little growth for GlaxoSmithKline, Papadakis tells investors in a research note. The analyst now models zero like-for-like sales and a slight earnings decline. While the company's dividend and free cash flow yields look attractive, the former is likely to remain a source of uncertainty and the latter elevated in the absence of a pipeline/growth story, contends Papadakis.
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