Novartis: title on the rise, a broker adjusts its advice

( – Novartis gained almost 2% in Zurich after Stifel today raised its recommendation on the stock from Hold to Buy.

Similarly, the analyst is raising its price target from CHF 89 to CHF 97 ‘given the growing gap between the consensus and our own assumptions for core sales and EBIT going forward’, it says .

‘We are seeing a reversal in investor sentiment towards Novartis’, says Stifel, for whom the group’s recent positive announcements regarding Pluvicto (advanced prostate cancer) and Kisqali (breast cancer) ‘more than offset our opinion conservative on Leqvio (cholesterol)’.

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