Roche: share down, with Barclays seeing transition phase
(CercleFinance.com) - Roche (-0.
1%) is one of the few fallrs in the SMI index in Zurich on Monday after Barclays downgraded its rating on it, saying that the Swiss laboratory is currently going through a "transitional" period.
In its morning comments, Barclays said that it had downgraded its rating on Roche shares from "overweight" to "equal weight", with a TP cut from 350 to 270 Swiss francs.
While the bank continues to believe that the Basel-based group's current portfolio (Ocrevus, Hemlibra, Tecentriq, Vabysmo) will probably continue to grow, it now wants reassurance on its "pipeline" of projects after the clinical failures of the past 12 months.
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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.
1%) is one of the few fallrs in the SMI index in Zurich on Monday after Barclays downgraded its rating on it, saying that the Swiss laboratory is currently going through a "transitional" period.
In its morning comments, Barclays said that it had downgraded its rating on Roche shares from "overweight" to "equal weight", with a TP cut from 350 to 270 Swiss francs.
While the bank continues to believe that the Basel-based group's current portfolio (Ocrevus, Hemlibra, Tecentriq, Vabysmo) will probably continue to grow, it now wants reassurance on its "pipeline" of projects after the clinical failures of the past 12 months.
Copyright (c) 2023 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.