GSK Shares: Analysts Lift Targets on Pipeline Confidence

Despite a decline on Monday, GSK (LON: GSK) shares have gained ground in recent weeks, prompting some major banks to raise their price targets, citing growing confidence in the drugmaker’s pipeline, commercial execution, and long-term sales outlook.

The stock is up more than 14% over the past week and more than 18% year-to-date.

Bank of America lifted its price target to 2,350p from 2,100p in a note on Monday and reiterated a Neutral rating.

The bank told investors in a note that a survey of 20 U.S. academic and community haematologists and oncologists showed encouraging sentiment toward Blenrep.

Analysts said the physician feedback supports an un-risked £2.2 billion peak sales estimate, arguing that this represents “material upside” versus the £1.1 billion consensus.

TD Cowen also raised its target, moving to $70 from $55 while keeping a Hold rating. The bank said GSK’s new chief executive appears positioned to strengthen what it described as an already well-performing business and research operation.

It added that key launches and upcoming pipeline catalysts over the next year should boost confidence in the company’s £40 billion sales ambition for 2031, a figure sitting well above market expectations.

Citi increased its price target to 2,250p from 1,900p and maintained a Neutral stance. Analyst Graham Parry said the updated view reflects improving conviction in the company’s strategic direction and upcoming data readouts.

The moves come as the GSK share price continues to perform strongly, boosted by its recent earnings release.