J.P. Morgan: GlaxoSmithKline's performance expectations suggest it will face exchange rate headwinds.

Analysts at J.P. Morgan said in a report that GlaxoSmithKline's fourth-quarter earnings were strong and exceeded expectations, including encouraging news about the performance of its shingles treatment drug Shingrix. However, these analysts stated that the pharmaceutical company's 2026 performance expectations imply that foreign exchange fluctuations will result in core earnings per share being 3% lower than the average expectations. They added that cost reductions in sales, general, and administrative expenses also helped GlaxoSmithKline's core earnings per share to exceed average expectations. The stock rose 1.4%, closing at 19.73.