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Novartis: Oddo BHF remains positive ahead of Sandoz split
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on Novartis shares, along with its target price of 105 CHF, with the split of its Sandoz generics and biosimilars division due around 4 October.
The broker says that the Swiss healthcare giant should continue to benefit from its transformation into a pure player in innovative medicine, with a concentration on five high-growth therapeutic areas. Oddo BHF also highlights the strong commercial momentum, as well as a gradual improvement in sentiment towards the pipeline following recent successes (notably NATALEE) and clinical newsflow. The stock's valuation (2024 P/E of 13.6x) still presents a discount of 7% compared to its historical median (10 years), the analyst adds, who also points to a 2022-26 CAGR of Core EPS of 9, 7% (compared to 9.1% for the sector). Copyright (c) 2023 CercleFinance.com. All rights reserved. |
30/05/2025 18:02
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