Novartis: UBS cuts target price
(CercleFinance.com) - In short, the analyst has little confidence in the group's growth aspirations, therefore confirming neutral rating on the stock, with a lowers target price of 80 Swiss francs (vs.
86 Swiss francs previously).
"We re-examined our investment thesis with a focus on Innovative Medicines but lack enough confidence in its growth prospects to justify a re-rating," UBS says.
Vas Narasimhan, Novartis' chief executive, said the company was targeting average annual revenue growth of around 4% by 2027.
Its core operating margin should be at least 40% over the medium-to-long term.
Copyright (c) 2022 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.
86 Swiss francs previously).
"We re-examined our investment thesis with a focus on Innovative Medicines but lack enough confidence in its growth prospects to justify a re-rating," UBS says.
Vas Narasimhan, Novartis' chief executive, said the company was targeting average annual revenue growth of around 4% by 2027.
Its core operating margin should be at least 40% over the medium-to-long term.
Copyright (c) 2022 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.