Roche: Jefferies downgrades stock
(CercleFinance.com) - On Friday Jefferies downgraded its rating on Roche shares to "hold" (from "buy"), while maintaining its target price at 360 Swiss francs (current price about 317.
5 Swiss francs, -0.9%).
In a report, the broker stresses that the stock remains a defensive stock of choice within the European pharmaceutical sector, with a high premium justified by encouraging prospects in the development of new drugs.
However, the analyst believes that the company's recent failures in oncology have clouded its future and that investor wariness could intensify ahead of key data on an Alzheimer's drug due in Q4.
Against this backdrop, Jefferies currently favours GSK, which is in the process of spinning off its consumer healthcare business. It also likes the safe bet Novartis.
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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.
5 Swiss francs, -0.9%).
In a report, the broker stresses that the stock remains a defensive stock of choice within the European pharmaceutical sector, with a high premium justified by encouraging prospects in the development of new drugs.
However, the analyst believes that the company's recent failures in oncology have clouded its future and that investor wariness could intensify ahead of key data on an Alzheimer's drug due in Q4.
Against this backdrop, Jefferies currently favours GSK, which is in the process of spinning off its consumer healthcare business. It also likes the safe bet Novartis.
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.