Novartis: Oddo BHF confirms its recommendation on the share

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Novartis shares, with an unchanged target price of 95 CHF.


The broker points out that Q1 sales (+4% vs. consensus) and core EPS (+7% vs. consensus) came in above expectations.

In this context, Novartis is raising its FY 24 guidance with: 1/ high-single to low double-digit sales growth (vs. mid single digit) and 2/ core EBIT up low double-digit to mid-teens (vs. high single digit).

The broker estimates that the consensus expects around a 3% upward revision for sales and 1.5% for core EBIT, and adds that the share should react positively to this very solid and reassuring publication. Quite right: cp +5%.


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