GSK's earnings per share (EPS) forecast has been lowered by UBS by approximately 5% due to expected weakness in the third quarter, specifically in US vaccine sales and a decline in Chinese Shingrix performance.

The analyst maintains a Neutral rating on the stock and sets a target price of 1,580 pence. The EPS reduction is attributed to recent sales challenges, but the resolution of Zantac litigation has not affected the target price.

GSK projects sales growth between 7% and 9% for 2024, an increase from the previous estimate of 5% to 7%. Core EBIT is expected to rise by 11% to 13%, up from 9% to 11%, while core EPS is anticipated to grow by 10% to 12%, compared to the earlier forecast of 8% to 10%.

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