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Roche: now Jefferies' top pick in pharma sector.

(CercleFinance.com) - Jefferies on Thursday named Swizerland's Roche its "top pick globally" for the pharma sector, maintaining a "buy" rating on the stock, maintaining its target price of 290 Swiss francs.

In a research note dedicated to pharmaceutical stocks, Jefferies recommends investors not to ignore Roche, as the company's shares have de-rated recently.

"We think Roche is approaching the lows on sentiment," writes the broker in its report, urging investors to "look hard" at the replacement power offered by the firm's new drugs, such as Ocrevus and Perjeta.

US drugmaker AbbVie was previously Jefferies' top pick for 2017.

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