Sandoz: share price rebounds, UBS raises target

(CercleFinance.com) - At the end of the day, Sandoz shares were up more than 2%, benefiting from UBS's analysis of the day, and recouping all of yesterday's losses.


UBS confirms its buy recommendation on the stock, and raises its target price to E39.5 (from E36) following the announcement of its results for the first half of 2024.

First-half results were mixed, but we see the strong performance of biosimilars as a reason to become more positive', says UBS.

On the occasion of its half-yearly publication, Sandoz has raised its revenue growth forecast to mid-to-high single-digits at constant exchange rates, and is more confident in a core EBITDA margin of around 20%.

Copyright (c) 2024 CercleFinance.com. All rights reserved.