Novartis "hold," estimates raised

14.09.07 - ING Financial Markets

LONDON, September 14 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on Novartis AG (NOT), while raising their estimates for the company. The target price is set to CHF72.

In a research note published this morning, the analysts mention that following the company?s Pharma Business Review, the pharma sales estimate for FY10 has been raised by 1%. Mainly, the Aclasta estimate for FY10 has been raised by $130 million to $710 million. While 2007 is likely to remain challenging for Novartis, the company is likely to achieve renewed growth post 2H08, ING Financial Markets adds. The EPS estimates for FY07-FY10 have been raised by less than 1%.