(CercleFinance.com) – UBS on Friday raised its price target on Novartis, which rose from 80 to 82 Swiss francs, while declaring to expect “weak growth” from the pharmaceutical group this year.
The broker explains that the absence of catalysts in sight, especially in the first half, leads him to believe that no revaluation will take place immediately.
‘In the current state of the portfolio (‘ pipeline ‘), we believe that clinical-level catalysts are unlikely to result in a major revaluation in 2022, and if it does, it would not happen until the second semester, ‘he warns.
UBS nevertheless maintains a ‘neutral’ opinion on the value, saying that it does not perceive any elements capable of causing the stock price to fall. However, he adds to see better opportunities within the sector, especially on the side of the French Sanofi.
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