Barclays upgrades Haleon to 'overweight'
![Haleon | Sharecast graphic / Josh White dl haleon consumer goods products personal care gsk ftse 100 logo](https://img.s3wfg.com/web/img/images_uploaded/9/3/dl-haleon-consumer-goods-products-personal-care-gsk-ftse-100-logo_620x350.jpg)
Haleon
391.30p
16:40 13/02/25
0.20%
0.80p
Barclays upgraded Haleon on Wednesday to ‘overweight’ from ‘equalweight’ after a US Court threw out lawsuits alleging that GSK’s former heartburn drug, Zantac, had caused cancer.
FTSE 100
8,764.72
16:40 13/02/25
n/a
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Pharmaceuticals & Biotechnology
22,395.36
17:14 13/02/25
0.92%
203.60
"Zantac related MDL litigation in the US was summarily dismissed last night, meaning it will not proceed to trial (unless successfully appealed)," Barclays said.
"As such we regard Zantac as substantially derisked, leaving Haleon investible again for those without the appetite for pharma litigation risk."
The bank lifted its price target on the shares to 360p from 298p. Haleon was recently spun out from GSK as its consumer healthcare business.
At 1320 GMT, Haleon shares were up 3.4% at 305.20p.