Novartis: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded its rating on Novartis shares from "buy" to "neutral", having reduced its target price for them from 92 Swiss francs to 80 Swiss francs; the latter leaves the Swiss pharmaceutical group's stock with upside potential of just 5%.


"Headwinds in oncology and longer timelines to make platforms like CAR T and gene therapy stronger growth drivers means we see low near-term growth vs peers," the broker says.


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