Novartis: Stifel upgrades stock
(CercleFinance.com) - Stifel has upgraded its rating on Novartis shares from Hold to Buy.
The analyst has also raised his target price for the shares from 89 Swiss francs to 97 Swiss francs, given the growing gap between consensus and its own assumptions for future sales and core EBIT, the analyst says.
We see a reversal in investor sentiment towards Novartis, Stifel said, noting that the company's recent positive announcements on Pluvicto (advanced prostate cancer) and Kisqali (breast cancer) more than offset the broker's conservative view on Leqvio (cholesterol).
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