05:12 AM EDT, 05/05/2026 (MT Newswires) -- Bernstein on Monday reduced its price target for GSK (GSK.L) as it highlighted upcoming catalysts expected to boost investor confidence in the pharmaceutical giant's long-term growth potential.

"In 2026, we expect phase 3 data for camlipixant and bepirovirsen in high unmet need segments (refractory chronic cough and hepatitis B, respectively). We also believe that the portfolio review during the 2Q26 results (which will not just focus on HIV) will increase investors'conviction in GSK's ability to mitigate the HIV tablet patent expires in 2028/2029. In 4Q27/1Q28, we could witness the phase 3 (DREAMM-10) data for GSK's Blenrep vs Darzalex (JNJ; MP; Lee Hambright) in the largest segment (ie treatment naive) of myeloma (blood cancer). The respective consensus peak sales are $1bn and $23bn,"according to a note.

Bernstein cut the outperform-rated stock's price target to 26.30 pounds sterling from 27.50 pounds.

On the earnings side, the research firm trimmed its adjusted EPS forecast for full-year 2026 to 2031 by 1% to 3% to account for a decline in general medicine revenues, noting the revised 8.4% compound annual growth rate estimate is 490 basis points higher than consensus. Additionally, analysts noted that their adjusted EPS projections for 2026 through 2033 are up to 20% above market expectations as they model faster expansion in specialty medicines and vaccines to support operating leverage.