Credit Suisse Downgrades Novartis (NVS) to Neutral

Credit Suisse downgraded Novartis (NYSE: NVS) from Outperform to Neutral.

Analyst Rebekah Harper comments "2017 is a transition year as Glivec generics erode profitability and SG&A investment in Entresto, Cosentyx and Alcon needs to accelerate. Aggressive efficiency efforts in manufacturing and back office are already assumed in our estimates. We expect R&D efficiency will be the next source of target savings. With no EPS growth in 2017E and concerns around Serelaxin's launch potential, we see better upside elsewhere in the sector.

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 $74.11 yesterday.

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