Novartis: Stifel raises its target price for the share

(CercleFinance.com) - Stifel confirms its 'hold' recommendation on Novartis shares, with a price target raised from CHF 106 to CHF 109 after Novartis held its 'Meet-Novartis-Management (MNM) 2024' meeting last week.


"The main objectives were to provide updated medium-term forecasts and, above all, to convey a message of confidence that the Group is in a better position than ever to ensure long-term sustainable growth", the broker points out.

Stifel reports that Novartis is particularly interested in acquiring expertise in certain key areas and mastering technology platforms such as radioligand therapy (RLT) or cell-based therapy (CART), which the analyst deems 'very encouraging'.

In conclusion, we come out of MNM more convinced, but further analysis is needed before recommending a buy on the share compared with other preferred choices', he concludes.


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