Hikma upgraded by Morgan Stanley

Morgan Stanley has moved to an ‘overweight’ position from (‘equal weight’) on pharmaceuticals group Hikma (LON:HIK) saying that the current valuation is compelling.

The City heavyweight added: “We have dug into the details of the pipeline and are encouraged.

“A steady stream of projects and material opportunities reassure us.”

Nevertheless, analysts have trimmed their price target to 2,200 pence per share (from 2,500 pence).

At 2:35pm: (LON:HIK) Hikma Pharmaceuticals PLC share price was +123p at 1747p

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