Haleon PLC has continued strengthening its share value by executing a major share buyback. Renowned financial institutions such as Morgan Stanley and Bank of America have projected favorable top-line growth and raised their price targets to $10.95. Notably, Morgan Stanley has removed Haleon from its Top Pick. In an interesting development, GlaxoSmithKline (GSK) and Pfizer reduced their stakes in the company, raising $1.5 billion and $2.6 billion respectively. Meanwhile, Haleon's stock remained coveted by other asset management firms such as Envestnet and Oppenheimer. Despite some drivers citing its overvaluation, the company's share price reached a new 1-year high at $396.80. Haleon has projected high single-digit growth for its annual organic operating profit and continued its defensive role in consumer healthcare amidst global sell-off. However, it plans to shut a UK plant, leading to job cuts. The company posted increased profits based on its power brands and welcomed new board members for strategic growth. It also executed a £185 million buyback and launched a £10B note programme while divesting its ChapStick brand and international NRT business successfully.
Haleon Stocks News Analytics from Wed, 17 Jan 2024 08:00:00 GMT to Fri, 20 Sep 2024 17:14:41 GMT -
Rating 7
- Innovation 2
- Information 5
- Rumor -3
