Jefferies Upgrades Novartis (NVS) to Buy

Jefferies upgraded Novartis (NYSE: NVS) from Hold to Buy.

Analyst Jeffrey Holford comments, "Updating for recent transactions and increased visibility on LCZ696 sees our EPS estimates raised by 3-10% leaving us 2-8% ahead of consensus in the mid to long term. With a refocused business going forward and positive earnings momentum expected, we raise the stock to a Buy with a PT of CHF87."

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 $87.00 yesterday.

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