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.

Despite this adjustment, UBS maintains a Neutral rating on GSK's stock, with a target price of 1,580 pence, which remains unchanged from previous estimates.

GSK projects sales growth for 2024 to be between 7% and 9%, an increase from the earlier forecast of 5% to 7%. The company also expects core EBIT to rise by 11% to 13%, up from the previous range of 9% to 11%, and anticipates core EPS growth of 10% to 12%, compared to the earlier estimate of 8% to 10%. The resolution of the Zantac litigation has contributed to the stability of the target price.