Novartis: shares rise after Jefferies starts coverage
(CercleFinance.com) - Novartis shares are up over 2.
2% at 86.8 Swiss francs in afternoon trading on Tuesday after Jefferies began its coverage of the stock with a "buy" rating.
In a note to clients, the US broker said it is optimistic about the sales of psoriasis drug Cosentyx and believes that the planned Alcon spin-off in the first half of 2019 will "crystallise value."
Jefferies has set a target price of 105 Swiss francs for the stock.
More generally, the broker said it is positive on European big-cap pharma stocks such as Roche, GSK or Sanofi, as the sector "enters a period of sustained earnings momentum."
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
2% at 86.8 Swiss francs in afternoon trading on Tuesday after Jefferies began its coverage of the stock with a "buy" rating.
In a note to clients, the US broker said it is optimistic about the sales of psoriasis drug Cosentyx and believes that the planned Alcon spin-off in the first half of 2019 will "crystallise value."
Jefferies has set a target price of 105 Swiss francs for the stock.
More generally, the broker said it is positive on European big-cap pharma stocks such as Roche, GSK or Sanofi, as the sector "enters a period of sustained earnings momentum."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.