The analyst confirms his buy recommendation on the share, with an unchanged target price of 2040 pence, representing a potential upside of 20%.

' GSK's first-quarter results exceeded expectations, leading to a slight increase in full-year forecasts. We consider the valuation to be low given the growth outlook and are monitoring progress on Zantac and important catalysts' says UBS.

' UBS expects sales growth of 4% and EPS growth of 6% for fiscal 2024. UBS's forecasts are 2% below the recent consensus provided by the company' says the analyst firm.

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