Swedish bank Handelsbanken has downgraded AstraZeneca PLC (AZN.US) from "buy" to "hold," citing concerns that the company's target of achieving $80 billion in total revenue by 2030 appears overly optimistic. The downgrade comes amid reports that the pharmaceutical giant has suspended major investments in its home market. The UK's largest listed company has become the latest pharmaceutical firm to scale back operations in the country. A company spokesperson confirmed late Friday that it has suspended a £200 million (approximately $272.12 million) investment plan for its Cambridge research and development center, delivering a significant blow to the UK government.
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