(CercleFinance.com) – Stifel maintains its ‘hold’ rating on Roche shares, with a price target reduced from 306 to 280 Swiss francs.
The broker reports that despite an expected increase in operating profit in 2024, investors remain concerned about earnings per share which are expected to be lower than in 2018, notably due to an estimated increase of 500 million Swiss francs in financial and of 800 million Swiss francs in taxes.
Stifel reports that Roche will organize various investor relations events, including the traditional Pharma Day in September during which an update of the group’s strategy is planned.
‘Needless to say, we expect the event to be well attended, but we also emphasize that performing before this event could prove difficult,’ emphasizes the analyst.
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