Roche: Oddo adjusts target price.
(CercleFinance.com) - Oddo has reiterated its "buy" recommendation on the Roche stock, while trimming its target price from 278 Swiss francs to 284 Swiss francs, in the wake of a 2% to 3% reduction in its medium-term EPS sequence for the health group (3-to-5 years).
The broker's analysts have reviewed their sales estimates for Roche's three star products (Rituxan, Herceptin, Avastin), although believe that the Swiss group has a portfolio of very promising new molecules, citing Tecentriq, Ocrevus and Hemlibra.
The analyst who tracks the stock says that UBS' estimates are more conservative than the consensus on the historic franchise, although are more aggressive for new products, adding that Roche's 2019 P/E works out at 14.2x, against 13.6x for the sector (i.e. a premium of 4%).
Copyright (c) 2017 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 broker's analysts have reviewed their sales estimates for Roche's three star products (Rituxan, Herceptin, Avastin), although believe that the Swiss group has a portfolio of very promising new molecules, citing Tecentriq, Ocrevus and Hemlibra.
The analyst who tracks the stock says that UBS' estimates are more conservative than the consensus on the historic franchise, although are more aggressive for new products, adding that Roche's 2019 P/E works out at 14.2x, against 13.6x for the sector (i.e. a premium of 4%).
Copyright (c) 2017 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.