Sandoz: Berenberg no longer Buy
(CercleFinance.com) - Berenberg announced on Wednesday that it had downgraded its recommendation on Sandoz from 'buy' to 'hold', with the price target unchanged at 38 Swiss francs.
In a research note, the analyst recommends that investors 'pause for breath', as the stock has posted one of the best performances in the healthcare sector this year, with an annual gain of 32%.
According to the intermediary, this performance is due to market share gains at the expense of AbbVie's Humira, the successful launches of biosimilars Tyruko (multiple sclerosis) and Pyzchiva (Crohn's disease) in Europe, and upcoming launches in the US.
However, Berenberg says it is struggling to envisage any new catalysts following the company's strategy meeting on September 3, at which no new pipeline developments were presented and the group's financial targets were simply reiterated.
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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 decision-making aids 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.
In a research note, the analyst recommends that investors 'pause for breath', as the stock has posted one of the best performances in the healthcare sector this year, with an annual gain of 32%.
According to the intermediary, this performance is due to market share gains at the expense of AbbVie's Humira, the successful launches of biosimilars Tyruko (multiple sclerosis) and Pyzchiva (Crohn's disease) in Europe, and upcoming launches in the US.
However, Berenberg says it is struggling to envisage any new catalysts following the company's strategy meeting on September 3, at which no new pipeline developments were presented and the group's financial targets were simply reiterated.
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 decision-making aids 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.