Is the AstraZeneca share price undervalued?
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The excitement of last summer when
AstraZeneca (LSE: AZN) announced positive vaccine trial results seems a long time ago now. The market is less enthusiastic about the pharma giant now. The AstraZeneca share price has now fallen by 25% from the 10,120p high seen last July.
I reckon Astra’s share price reflects wider concerns about the company. But I’m starting to think that the stock may have dropped far enough. For the first time in a while, I’m thinking about buying AstraZeneca shares for my portfolio.
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As the FTSE 100 hovers around 7,000, when will it hit 8,000?
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On Friday, 16 April, the
FTSE 100 index closed at 7,019.50 points. This was the index’s first close above 7,000 since February 2020. Yesterday, the Footsie ended just 0.1 points above 7,000. As I write on Tuesday, the index is down 80 points (1.1%) and seems likely to close below 7,000 again.
The FTSE 100 crashed in 2020
In 2020, the FTSE 100 started well, peaking at 7,674.60 on 17 January. This left it roughly 200 points (2.6%) down from the record close of 7,877.45 on 22 May 2018. Then, as Covid-19 infections exploded, the index crashed to close at 4,993.90 on 23 March 2020. I call this low point for UK stocks ‘Meltdown Monday’, because it also marked the beginning of a huge relief rally. Today, the Footsie has soared over 1,925 points since Meltdown Monday, leaping by almost two-fifths (38.6%).
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UK shares to buy now: how I’d invest £1,000 a month Image source: Getty Images.
If I had £1,000 a month to invest in the stock market, I’d want to consider which UK shares to buy now. Here’s how I’d look to get an attractive return from my regular investment.
Setting objectives
One good thing I see in putting £1,000 each month into shares is that I could build up a decent investment pot relatively fast. That would enable me to diversify my holdings. I value diversification because it offers exposure to different businesses. That helps reduce my risk should any one investment perform poorly.
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But as the economy opens up, its clothing sales will surely rise. When coupled with the steady food business, I reckon these twin tailwinds will help power ABF’s growth in the years ahead. City analysts seem to agree. They expect the company to report a net profit of £1.1bn in 2022, up from £455m for 2020. Of course, these are just forecasts at this stage.
Based on these projections, I’d buy the FTSE 100 stock for my portfolio today. I think the main risk facing the business is the threat of another lockdown. This could force the closure of the group’s clothing and lifestyle stores once again. Rising prices may also harm profit margins in the food business, which may depress overall profitability.