Deutsche Bank upgraded Novartis to Buy from Hold with a price target of CHF 105, up from CHF 80. The company posted a a strong start to 2023 with a "beat and raise," the analyst tells investors in a research note. The firm says the NATALEE trial "has restored a semblance" of sales sustainability to the company’s mid- and long-term outlook. When coupled with the clear margin implications, it creates a "much more fertile ground for market reception to emergent pipeline developments," Deutsche contends.
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