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Novartis: Bryan Garnier still a buyer; adjusts target price.

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Swiss pharmaceutical Novartis share, while increasing its fair value from 92 Swiss francs to 93 Swiss francs, the day after an investor day organised by group management.

Overall, this meeting has been informative, enabling us to better evaluate the value proposition that the group sees beyond some shorter-term growth catalysts, the broker said.

Regarding the detailed presentation of certain drugs, Bryan Garnier considers that AMG334 (migraine) and Cosentyx, that Novartis was the most convincing, asides psoriasis.

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