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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVS:
- Novartis downgraded to Hold from Buy at Erste Group
- Novartis, Radio Therapeutics enter license, collaboration agreement
- Novartis says Pluvicto talks in Canada end without agreement
- Biotech Alert: Searches spiking for these stocks today
- Schrodinger price target raised to $28 from $27 at Goldman Sachs