Erste Group Upgrades Novartis (NVS) to Buy, 'currently valued below the sector average despite the good growth prospects'

Erste Group analyst Hans Engel upgraded Novartis (NYSE: NVS) from Hold to Buy.

The analyst comments "For 2024, the Group expects net sales growth in the high single-digit or low double-digit percentage range and also stronger growth in the operating result. The company has an operating margin that is above the sector average. The earnings trend will be characterized by increasing momentum in the second half of 2024. Based on the P/E ratio, the stock is currently valued below the sector average despite the good growth prospects."

For an analyst ratings summary and ratings history on Novartis click here. For more ratings news on Novartis click here.

Shares of Novartis closed at $119.38 yesterday.

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