Deutsche Bank Downgrades Novartis Rating and Adjusts Price Target
NVS Novartis AG ADR
$163.26 -0.26%
View chart & analysis → - 1Deutsche Bank lowered its investment rating on Novartis from 'Hold' to 'Sell' and reduced its price target from CHF120 to CHF115.
- 2Novartis's core earnings per share of $2.46 in Q3 exceeded the expected $2.28 for the third quarter.
- 3Novartis's stock price raised profit outlooks as the company recorded $14.52 billion in revenue for Q3.
So what's the key point?
Deutsche Bank recommended selling Novartis shares and lowered the expected price to 115 francs. Although earnings were better than experts expected, the rating for the stock was lowered.
Source Investing.com · View original ↗
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