UPDATE: Morgan Stanley Upgrades Novartis (NOVN:SW) (NVS) to Overweight
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Morgan Stanley analyst Mark Purcell upgraded Novartis (NOVN:SW) (NYSE: NVS) from Equalweight to Overweight with a price target of CHF101.00 (from CHF93.00).
The analyst comments "Greater focus on execution risks and rising concerns that future growth could grind to a halt without M&A support has seen Novartis shares de-rate by 20% vs peers. We argue 2021
will be an execution reward year, with the emergence of hidden pipeline assets not reflected in the current valuation."
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