Roche: Oddo adjusts target price after trial results

(CercleFinance.com) - Oddo has confirmed its Buy rating on the Roche stock, although has trimmed its target price to 267 Swiss francs (vs.
272 Swiss francs) following this morning's announcement of positive results from a clinical trial.

Roche has shown positive results for its IMpower131 study which evaluates the combination of Tecentriq + chemotherapy in immuno-oncology in patients suffering from lung cancer.

The company reports that the PFS criterion has been met (reduction of progression or death) but that the OS (survival) criterion has not yet been reached at this stage of the study (interim analysis), Oddo says in its daily research report.

A best-case scenario could lead us to peak sales of 4.7 billion Swiss francs in lung cancer, the broker's research team adds.


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