1443 GMT - GSK needs to manage its base business in a flawless way to hit its 2031 sales target, given that it will take a few years for its drug pipeline to contribute to its top line meaningfully, RBC Capital Markets analysts say in a research note. The U.K. drugmaker's core HIV, general medicines, respiratory and vaccines businesses will face significant competition over the next five years and its drug pipeline remains a "show-me" story for now, the analysts say. "We believe GSK has made oncology the priority area with Blenrep and its [antibody-drug conjugate] portfolio, but we don't see material sales until the end of the decade for these assets," the analysts add. RBC starts coverage of GSK with a sector perform recommendation and a target price of 19.75 pounds. Shares rise 0.5% to 18.05 pounds.