Novartis: Liberum raises target price
(CercleFinance.com) - Liberum has raised its price target for the Novartis share to 96 Swiss francs, from.
91 Swiss francs previously, citing "more margin" in the near-term and "better R&D" in the long-term.
In a note to clients, the British broker pointed out that the Swiss drugmaker's shares are 7% below their July highs, despite two guidance raises, due to issues around the gene therapy for children Zolgensma.
However, Liberum said in the report that it sees near-term catalysts, and believes changes to Novartis' R&D engine are underappreciated, meaning that they could drive a significant uplift to long-term returns.
In all, Liberum sees 11% upside in the share price, on which it maintains a "buy" rating.
Copyright (c) 2019 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.
91 Swiss francs previously, citing "more margin" in the near-term and "better R&D" in the long-term.
In a note to clients, the British broker pointed out that the Swiss drugmaker's shares are 7% below their July highs, despite two guidance raises, due to issues around the gene therapy for children Zolgensma.
However, Liberum said in the report that it sees near-term catalysts, and believes changes to Novartis' R&D engine are underappreciated, meaning that they could drive a significant uplift to long-term returns.
In all, Liberum sees 11% upside in the share price, on which it maintains a "buy" rating.
Copyright (c) 2019 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.