Novartis "buy"

20.04.06 - Merrill Lynch

LONDON, April 20 (newratings.com) - Analysts at Merrill Lynch maintain their "buy" rating on Novartis (NOT). The price objective is set to CHF83.

In a research note published this morning, the analysts mention that the company is expected to post its 1Q06 EPS and sales, scheduled to be reported on April24, at 76¢ $8,496 million, representing +21% y/y and +16% y/y growth, respectively. Novartis? results are expected to have been boosted by 18% pharma operating profit growth, the analysts say. The market seems to be undervaluing the company?s attractive pipeline, Merrill Lynch adds.