(CercleFinance.com) – Roche lost almost 1.5% in Zurich while Stifel confirmed this morning its ‘hold’ rating on the stock with a slightly reduced price target from 320 to 315 CHF.
While Roche organized its PharmaDay 2024 in London yesterday, Stifel doubts that the major efforts made by management to modify the strategy, organization and conduct of operations over the past year could lead to a radical change in the case investment.
However, over the next 15 months, Roche will deliver a substantial number of clinical results (the company mentioned 12 phase 3 studies for 2025). ‘This is what could decide a turnaround in the situation,’ believes the broker.
Stifel also confirms that the consensus underestimates estimates by 3 to 6% for the next few years, regardless of what the pipeline will bring.
‘This could lead to a slight rise in the stock price in the short term, but only improved R&D performance could justify an attractive buy case, in our view,’ the analyst concludes.
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