Novartis "buy"

19.10.06 - Dresdner Kleinwort Wasser.

LONDON, October 19 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on Novartis AG (NOT). The target price is set to CHF80.

In a research note published this morning, the analysts mention that the company has reported its 3Q sales in-line with and the EPS marginally ahead of expectations on account of a better tax rate. The analysts expect Novartis to file for Tasigna (CML) by the end of 2006 and increased visibility into the FTY720 trials for MS.