Novartis: Oddo stays on 'Buy' after quarterly figures

(CercleFinance.com) - Oddo confirms its 'Buy' recommendation on the share and its price target of 97 CHF after the announcement of 2nd-quarter results.


The group turnover of $13.2 billion (+5% at constant exchange rates/+7.5% published) is in line with Oddo's expectations and 1.5% above consensus.

Core operating profits rose by 7% to 3.5 billion dollars (+9% excluding currency effects), and net profits by 3% to 3 billion (+5%), or 1.29 dollars per share.

“Management confirms its annual guidance for 2018 and we don't expect any major developments in consensus following this publication”, indicates Oddo in its daily note.

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