Roche: Liberum cuts price target; maintains 'hold' rating.
(CercleFinance.com) - Liberum maintains a "hold" rating on Roche, despite the share's 16% underperformance versus the sector and top pick Novartis since March.
The British investment bank says underperformance is "justified" because US reimbursement mechanisms created for physicians/patients actually favour biosimilar drugs.
"This offsets our optimism on new products," Liberum adds, which is also reducing its price target for the shares from 262 Swiss francs to 250 Swiss francs.
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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.
The British investment bank says underperformance is "justified" because US reimbursement mechanisms created for physicians/patients actually favour biosimilar drugs.
"This offsets our optimism on new products," Liberum adds, which is also reducing its price target for the shares from 262 Swiss francs to 250 Swiss francs.
Copyright (c) 2017 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.