GlaxoSmithKline (LSE: GSK) has been out of favour with the market for some time. Its recent results did nothing to improve sentiment. Indeed, the GSK share price slumped to a five-year low last week.The stock looks very buyable to me right now. Here, I’ll discuss why I think it’s attractive, as well as the potential risks.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Decline of the GSK share priceLittle more than a year ago, GSK’s shares hit a peak of 1,846p. From there to last week’s five-year low of 1,255p is a decline of 32%. That’s some swing in market sentiment!Results on 3 February produced the final push into multi-year-low territory. The GSK share price suffered a one-day fall of over 6%.Performance and outlookGSK’s headline numbers didn’t appear to me to merit such a drop in the share price. The company reported a 3% rise in sales and a 4% fall in adjusted earnings per share (EPS) at constant exchange rates (CER), “in line with guidance.”I think the market was disappointed by the company’s outlook for 2021. Management said it expects modest sales growth and “a decline of mid to high-single digit percent adjusted EPS at CER.” The 2022 outlook though, remained unchanged. The company continues to expect a “meaningful improvement in revenues and margins.”GSK’s dividend news may also have negatively affected the share price. The board maintained the 2020 payout and expects to maintain it in 2021. However, to support growth and investment, the company said it will be implementing a new dividend policy in 2022 under which “we expect that aggregate distributions for GSK will be lower than at present.”Looking longer termI think the market is perhaps being short-sighted. Near-term sales are expected to be anaemic and earnings subdued due to investment in R&D and the promotion of new product launches. The business hasn’t been entirely immune to the impact of the Covid-19 pandemic either. Finally, the preparations for demerging the consumer healthcare business in 2022 are also weighing on near-term performance.However, in the longer term, I see plenty to encourage me that GSK offers significant value at the current share price. The company reported “strong growth of new and specialty products” in 2020. Its biopharma pipeline has “over 20 assets now in late-stage clinical trials.” These include “10+ with potential peak annual revenues in excess of $1bn.”Meanwhile, the demerger of the consumer healthcare business, with its £10bn annual sales, will create a standalone global leader in the sector.Why I like the GSK share priceGSK’s shares are off last week’s low, being priced at 1,278p, as I’m writing. This is 11 times the group’s 2020 EPS.The consumer healthcare business contributed 25% to operating profit. I see no reason why this business shouldn’t command an earnings rating similar to consumer health and hygiene company Reckitt Benckiser.I can understand the market being hesitant to rate the pharma side of the business highly at the moment. After all, there’s a risk its pipeline may not be as productive or lucrative as management currently anticipates.However, if I rate the consumer business at a Reckitt Benckiser-style 20 times earnings, and the pharma business at the modest 11 times earnings, I arrive at an aggregate 13.25 times earnings, and fair value for the GSK share price of 1,536p.Despite the aforementioned pipeline risk, I see potential upside for GSK of over 20% excluding dividends. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares FREE REPORT: Why this £5 stock could be set to surge Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Get the full details on this £5 stock now – while your report is free. G A Chester has no position in any of the shares mentioned. The Motley Fool UK has recommended GlaxoSmithKline. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images. The GSK share price has hit a 5-year low! Here’s why I’d buy today Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. G A Chester | Monday, 15th February, 2021 | More on: GSK See all posts by G A Chester
In the light of this recent surge in press freedom violations, of which this list is not exhaustive, you will appreciate that to talk of “one of the freest presses in the world” is clearly tantamount to an obscenity. July 31, 2019 After a year of press freedom violations, RSF writes to Pakistan’s premier When not targeted physically, journalists who cross certain red lines are subjected to judicial harassment. They include Shahzeb Jillani, an investigative journalist who was charged with “cyber-terrorism” in April in connection with a tweet referring to an ISI officer. We therefore urge your government to allow Pakistan’s journalists to exercise their profession in complete safety and with complete independence, as envisaged in article 19 of the 1973 constitution. Pakistani Prime Minister Imran Khan arrives to speak at the United States Institute of Peace (USIP) in Washington, DC, on July 23, 2019. “The Pakistani media is even freeer than the British media”, Khan said during this conference (photo: Alastair Pike / AFP). Help by sharing this information News RSF_en Muhammad Bilal Khan, a journalist and blogger whose YouTube channel had more than 50,000 followers, was hacked to death in an Islamabad suburb in June. One of his latest videos was about one of your speeches and, in one of his last tweets, he criticized your intelligence agency, Inter-Services Intelligence (ISI). The police have made no arrests in any of these three cases. Dear Prime Minister Khan, Constitution Avenue In an open letter to Imran Khan a year after he took office as Pakistan’s prime minister, Reporters Without Borders (RSF) calls on him to recognize the alarming decline in the state of press freedom in his country and to take urgent measures to address this. It is nonetheless clear that, as far as press freedom goes, the change has been for the worse. Ranked 142nd out of 180 countries in RSF’s 2019 World Press Freedom Index, your country has fallen three places in the past year. And the events of recent months offer no grounds for optimism about the “new Pakistan.” Paris, 31 July 2019 Organisation Sincerely, A month ago, a live Geo News interview with former President Asif Ali Zardari by the well-known journalist Hamid Mir was cut short after just a few minutes without any explanation. When contacted by RSF, the interviewer blamed you for this sudden and completely arbitrary act of censorship. There is nothing funny about this “joke” for journalists in your country. You claim that the Pakistani press is one of the freest in the world. “The Pakistani media is even freer than the British media,” you added at another point during your visit. These brazen cases of censorship, which seriously threaten journalistic independence and pluralism, are characteristic of non-democratic regimes. You won the general elections a year ago by repeating the slogans “Tabdeeli!” (Change) and “Naya Pakistan!” (a “New Pakistan”) during the campaign. Islamabad, Pakistan Pakistani TV anchor censored after denouncing violence against journalists April 21, 2021 Find out more News Follow the news on Pakistan Even the prestigious daily Dawn – founded in 1941 by Muhammad Ali Jinnah, the father of the Pakistani nation, as part of the fight against British colonialism – is being subjected to harsh economic harassment. Your government has denied it any income from state advertising since 24 April. According to RSF’s sources, this arbitrary decision was a reprisal for an article published the previous day about a press conference you gave in Tehran in which you recognized that Pakistan-based militants had been involved in attacks inside Iran. In other words, your government does not tolerate your country’s media repeating what you say while abroad. PakistanAsia – Pacific Condemning abusesProtecting journalistsMedia independence ImpunityEconomic pressureJudicial harassment Pakistani journalist critical of the military wounded by gunfire PakistanAsia – Pacific Condemning abusesProtecting journalistsMedia independence ImpunityEconomic pressureJudicial harassment Prime Minister Imran KhanOffice of the Prime Minister The signals of three other Pakistani TV news channels, AbbTakk TV, 24 News and Capital TV, were suddenly suspended from cable TV services on 8 July without any warning to their management, and remained suspended for several days. Najam Sethi, a well-known journalist who often works with 24 News, confirmed to RSF that the suspension was a reprisal for their coverage of a press conference by Maryam Nawaz Sharif, another opposition figure. Ali Sher Rajpar, the president of the press club in Padidan, in southeastern Sindh province, was fatally shot five times at point blank range on 4 May, shortly after unsuccessfully requesting police protection because he had been threatened in connection with his coverage of local corruption. Receive email alerts Secretary-General Pakistani supreme court acquits main suspect in Daniel Pearl murder When asked, during an official visit to the United States last week, about recent press freedom violations in your country, you replied: “Pakistan has one of the freest presses in the world (…) To say there are curbs on the Pakistan press is a joke.” It is clear that either you are very poorly informed, in which case you should urgently replace the people around you, or you are knowingly concealing the facts, which is very serious, given your responsibilities. Just four days before that, after another Pakistani journalist, Malik Amanullah Khan, was gunned down in the Parowa area of Dera Ismail Khan district, in northwestern Khyber Pakhtunkhwa province. He too was the president of the local press club. Just a few hours after you landed in the United States, the leading Pakistani TV news channel, Geo News, was censored yet again. Your fellow citizens found a blank screen when they tried to obtain independent, public interest reporting about your trip from this channel. to go further June 2, 2021 Find out more News Christophe Deloire The credibility of the Pakistani state and democracy is at stake. Related documents Open letter to Prime Minister KhanPDF – 183.12 KB News January 28, 2021 Find out more
Comments Facebook Twitter Google+ Published on January 23, 2012 at 12:00 pm Contact Michael: [email protected] | @Michael_Cohen13 CINCINNATI — The setup indicated less of a sequel and more of a shot-for-shot remake.The protagonist was the same: an undefeated Syracuse team with perhaps a hint of overconfidence. The plot was the same, too: losing a star and having an unproven role player attempt to fill in.Hell, the first act was even the same: lose on the road in a brutal environment where the home team rarely falters.But the second act, that’s where things took a turn.‘We just knew we had to get a win,’ SU forward Kris Joseph said following Monday’s win over Cincinnati. ‘Because if you remember last year, one loss turned into four straight.’AdvertisementThis is placeholder textLast year’s Syracuse team rolled into Pittsburgh on an 18-game winning streak for a date with the No. 5 Panthers. But missing from the lineup that night, Jan. 17, 2011, was Joseph. He was out with a head injury and in his place was the trigger-happy, defense and rebound-lacking James Southerland.The denouement: a 74-66 loss at the Petersen Events Center that set in motion a four-game losing landslide.This year’s Syracuse team rolled into South Bend, Ind., for a date with Notre Dame on a school-record 20-game win streak. But missing from the lineup Saturday was Fab Melo. He was out due to an unresolved academic issue, according to ESPN, and in his place in the middle of SU’s 2-3 zone was the highly touted yet underachieving Rakeem Christmas.The result: a 67-58 loss at the Joyce Center, where Notre Dame has now defeated the last six No. 1 teams to visit Purcell Pavilion.Monday, though, presented a new twist. A different page in the pick-your-own-adventure books we read as kids.Syracuse triumphed with a 60-53 win over Cincinnati in front of a packed house at Fifth Third Arena. The best bounce-back win Jim Boeheim can remember in his tenure at Syracuse.‘We were just so woeful Saturday night that to come in here with that atmosphere and the way they started the game, to play the way we did I thought was tremendous,’ Boeheim said.And with this win, there won’t be a cataclysmal two-week period in which a season potentially destined for greatness seems to go down the tubes. That’s because despite going 1-1 on a very difficult road trip, the Orange got better.Most importantly, Syracuse learned to play without Melo. Take one was a blooper reel with Jack Cooley abusing the undersized Christmas, Baye Keita and C.J. Fair.Take two, though, was a coming out party. Christmas was tough, he played with fire, he looked like a college basketball player. Four points, nine rebounds and three big blocks. And he did that guarding one of the best low-post players in the Big East in Yancy Gates. Not to mention fighting off a 38-pound weight disadvantage.‘He was a presence, and that’s what he needs to be for us,’ SU assistant coach Gerry McNamara said.The rising action of this two-game drama was the recertification of Syracuse’s veteran players as go-to players. The eight straight field goals in the second half from Joseph, Scoop Jardine and Brandon Triche to win the game against the Bearcats demonstrated who the true leaders are on a team entering a Big East stretch run.It showed that without the heroics of sophomore guard Dion Waiters, who had a season-low two points against Cincinnati, Syracuse will be just fine.And it showed that a 5-of-15 performance from the free-throw line can be offset with precision in the half-court offense.‘This whole game we needed shots,’ Jardine said. ‘Brandon made some, Kris made some, I made some, Rak made great passes — this was a team-effort win. And that’s what we needed.’Boeheim said he had to watch the tape of Saturday’s game twice because he couldn’t believe what he saw. The first game in his career in which not a single player played well. Nine guys took the floor, and nine guys stunk it up.He watched seniors play out of position and guard the wrong men defensively. He saw Keita fumble passes and travel away an open layup. He gritted his teeth while Waiters played 1-on-5 — fine for a playground but not a Big East basketball court.But Monday he watched resurgence in the form of a gritty performance in a hostile environment that cemented his team’s place as a Final Four contender.So by the time the curtains came down on Fifth Third Arena, Boeheim was more than pleased with this play’s alternate ending.‘We lose one game, we’re not going to be ready to shoot ourselves or something,’ he said. ‘It’s a good bounce-back.’Michael Cohen is a staff writer for The Daily Orange, where his column appears occasionally. He can be reached at [email protected] or on Twitter at @Michael_Cohen13.