Erste Group downgraded Novartis (NVS) to Hold from Buy. Sales increased 8.9% in Q3, supported by the success of Entresto, Kisqali, Kesimpta, Cosentyx, Pluvicto and Leqvio, and the company still expects net sales growth in the low double- digit percentage range and slightly higher percentage growth in the operating results for 2024, the analyst tells investors in a research note. However, Erste says that the import tariffs planned by the U.S. will have a negative impact on revenue, but are also likely to affect the group’s profitability.
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