01:10 AM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We adjust our target price by USD5 to USD48, implying 12x of our 2024 earnings per ADS estimate, largely in line with its historical mean. GSK raised the full year 2024 guidance after posting a strong start to the year with Q1 2024 sales excluding Covid-19 solutions growing 8%, driven by Vaccines (led by Arexvy and Shingrix) and Specialty Medicines (driven by the Ojjaara launch and strong momentum in HIV). GSK now expects 2024 sales growth to be toward the upper part of the 5%-7% guidance range and adjusted operating profit to grow 9%-11% vs 7%-10% previously (guidance excludes Covid-19 solutions and at constant exchange rates). We expect key products including Shingrix and Arexvy (potential label expansion to include at-risk adults aged 50-59) along with other new launches to drive growth while better product mix (shift toward Vaccines and Specialty Medicine) could help to support margin. We keep our estimates, which still fall within the raised guidance.