Novartis "buy"

24.04.06 - Dresdner Kleinwort Wasser.

LONDON, April 24 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on Novartis (NOVN). The target price is set to CHF80.

In a research note published this morning, the analysts mention that the company has reported its 1Q EPS ahead of the estimates due to efficient cost management in SG&A and R&D. Novartis? sales were marginally short of the estimates during the quarter due to difficult comparisons in the Sandoz unit, the analysts say. Novartis? stock deserves to trade at a premium to that of its peers, given the company's healthy product pipeline and low risk profile, Dresdner Kleinwort Wasserstein adds.