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Roche: UBS raises target price, shares outperform

(CercleFinance.com) - UBS raised on Friday its target price for Roche to 350 Swiss francs from 328 Swiss francs, leading the share to slightly outperform the market in Zurich.

"Roche's pipeline remains more than an insurance policy," UBS analysts wrote in a note to investors.

"Read-outs in 2020 should continue to drive the multiple at least to the sector average," they added.

UBS reiterated its "buy" rating on the stock, which was up 0.6% at 319.5 Swiss francs in late morning trading against a 0.2% rise in the Swiss SMI blue-chip index.

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