Novartis "buy"

21.07.06 - Jyske Bank

LONDON, July 21 (newratings.com) - Analysts at Jyske Bank reiterate their "buy" rating on Novartis (NOVN). The 12-month target price is set to CHF85.

In a research note dated July 17 and published this morning, the analysts mention that the company has reported healthy 2Q06 results for its pharmaceuticals business, driven by a positive Medicare Part D impact. Novartis witnessed sustained healthy EBIT margins in Sandoz, despite price declines in Germany, the analysts say.