Novartis: UBS raises target price
(CercleFinance.com) - UBS reiterates its Buy recommendation on the share, with a target price raised to 111 CHF (from 108 CHF) following the announcement of Q2 2024 results.
Novartis had an excellent second quarter: sales rose 2%, while EPS increased 5%. The group has raised its operating profit forecasts, UBS says.
Novartis is now targeting core operating income growth in the mid- to high-20% range for 2024, rather than the low- to mid-single-digit range.
The Swiss group, which is also maintaining its annual sales growth forecast of between high single-digit and low double-digit, justifies this upgrade by continued strong momentum from its main growth drivers.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Novartis had an excellent second quarter: sales rose 2%, while EPS increased 5%. The group has raised its operating profit forecasts, UBS says.
Novartis is now targeting core operating income growth in the mid- to high-20% range for 2024, rather than the low- to mid-single-digit range.
The Swiss group, which is also maintaining its annual sales growth forecast of between high single-digit and low double-digit, justifies this upgrade by continued strong momentum from its main growth drivers.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.