Novartis "neutral"

20.07.06 - J.P. Morgan Securities

LONDON, July 20 (newratings.com) - Analysts at JP Morgan maintain their "neutral" rating on Novartis (NOVN). The 12-month target price is set to CHF74.

In a research note published this morning, the analysts mention that the company is expected to achieve 7% and 10% sales growth and net income growth per annum, respectively, over the next five years. Novartis' current share price reflects the growth expectations, the analysts say. The company's 2Q results, excluding one-time items related to Chiron, were robust, JP Morgan adds.