AstraZeneca Gets Rare Sell as Deutsche Bank Has Pipeline Worries

AstraZeneca Plc got a rare sell rating on Thursday as Deutsche Bank AG analysts downgraded the British drugmaker, taking a more skeptical view on the company’s drug pipeline, in particular for breast cancer treatments.

Analyst Emmanuel Papadakis cut the stock from hold and reduced his price target to 10,500 pence, the lowest among analysts tracked by Bloomberg. That implies a 16% drop from current levels following the stock’s strong gains in the first half of this month.