Roche: Morgan Stanley says 'Overweight' ahead of results
(CercleFinance.com) - Morgan Stanley confirms its "overweight" rating on the Roche share, along with its target price of 346 Swiss francs on Roche, in the run-up to the Swiss pharmaceutical group's H2 2019 results, which are due to be published on 30 January.
"We expect a strong 2H19 delivery but the impact of biosimilars in the US could lead Roche to provide a conservative FY20 guidance," the broker says.
Thus, Morgan Stanley anticipates Roche to forecast "low-single-digit sales growth on a CER basis," and for EPS growth to be broadly in line with sales growth in 2020.
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"We expect a strong 2H19 delivery but the impact of biosimilars in the US could lead Roche to provide a conservative FY20 guidance," the broker says.
Thus, Morgan Stanley anticipates Roche to forecast "low-single-digit sales growth on a CER basis," and for EPS growth to be broadly in line with sales growth in 2020.
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.