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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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.
"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.
Copyright (c) 2020 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.