Novartis: UBS still on hold, but raises target price

(CercleFinance.com) - On Friday UBS raised its target price for Novartis shares to 82 Swiss francs (from 80 francs), remaining neutral, saying it expects "weak growth" from the pharmaceutical company this year.


The broker said that the lack of catalysts in sight, especially in the first half of the year, leads it to believe that no upside will be seen in the immediate future.

As such, UBS maintains a "neutral" rating on the stock, saying it does not see anything that would cause the share price to fall. It adds, however, that it sees better opportunities within the sector, particularly regarding its French peer Sanofi.

Novartis shares are currently down about 0.3%, while Sanofi shares are pretty flat.



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.