Novartis "hold"

25.04.06 - ING Financial Markets

LONDON, April 25 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on Novartis (NOVN). The 12-month target price is set to SFr76.

In a research note published this morning, the analysts mention that the company has reported its 1Q sales short of expectations. The analysts believe, however, that Novartis? business is on track. The company?s healthy profit growth in the quarter reflects stringent cost control, which is significant, since Novartis plans to increase its investments in R&D and marketing to support new product growth, ING Financial Markets says.