Roche: Stifel slightly reduces its target

(CercleFinance.com) - Stifel maintains its 'hold' rating on Roche shares, with a price target slightly reduced from CHF 320 to CHF 315.


As Roche held its PharmaDay 2024 in London yesterday, Stifel doubts that the major efforts made by management to change strategy, organization and operations over the past year will lead to a radical change in the investment case.

However, over the next 15 months, Roche will deliver a substantial number of clinical results (the company has mentioned 12 phase 3 studies for 2025). "This is what could decide a turnaround," believes the broker.

Stifel also confirms his view that consensus is underestimating estimates by 3-6% for the next few years, irrespective of what the pipeline will bring.

"This could lead to a slight rise in the share price in the short term, but only an improved R&D return could justify an attractive buy case, in our view," concludes the analyst.

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.