Roche: remains Jefferies' preferred EU big-cap

(CercleFinance.com) - Roche remains Jefferies' preferred EU big-cap as the US broker sees margins and pipeline optionality delivering upside on the share.


According to the broker, the stock is discounting marketed drugs, while ascribing no value to what is set to be the most exciting pipeline in pharma, with multiple innovative substantial reward readouts.

While maintaining its target price of 300 Swiss francs for the stock, Jefferies has upped its estimates: +2% for sales and +1% to +4% for earnings.

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