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Investment analysts at Berenberg Bank cut their price target on shares of GlaxoSmithKline plc (LON:GSK) to GBX 1,740 ($29.31) in a note issued to investors on Friday, American Banking News.com reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 6.10% from the stock’s previous close.

Shares of GlaxoSmithKline plc (LON:GSK) opened at 1636.45 on Friday. GlaxoSmithKline plc has a 52-week low of GBX 1200.668 and a 52-week high of GBX 1816.00. The stock has a 50-day moving average of GBX 1604.68 and a 200-day moving average of GBX 1619.. The company’s market cap is £78.779 billion.

The company also recently announced a dividend, which is scheduled for Thursday, July 10th. Shareholders of record on Wednesday, May 14th will be paid a dividend of GBX 19 ($0.32) per share. This represents a dividend yield of 1.17%. The ex-dividend date is Wednesday, May 14th.

A number of other analysts have also recently weighed in on GSK. Analysts at Credit Suisse reiterated an “underperform” rating on shares of GlaxoSmithKline plc in a research note on Tuesday. They now have a GBX 1,600 ($26.95) price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline plc in a research note on Tuesday. They now have a GBX 1,700 ($28.63) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of GlaxoSmithKline plc in a research note on Monday. They now have a GBX 1,660 ($27.96) price target on the stock. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 1,723.78 ($29.03).

GlaxoSmithKline plc (LON:GSK) is global healthcare group, which is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products.

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