Novartis "buy"

04.04.06 - Merrill Lynch

LONDON, April 4 (newratings.com) - Analysts at Merrill Lynch maintain their "buy" rating on Novartis (NOVN). The price objective is set to CHF83.

In a research note published this morning, the analysts mention that the company has increased its offer for the 56% stake in Chiron to $48 per share, from the previous $45 per share. The analysts expect the deal to close in April. The analysts believe that the deal would be accretive to Novartis' earnings during 2006. The deal offers significant strategic benefits to the company, Merrill Lynch adds.