Bryan Garnier - Roche Holding AG (RO) ROCHE: A feeling of strong confidence after RS with the company | BUY - Top Picks | CHF315 vs. CHF300

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Bryan Garnier

Eric Le Berrigaud

ROCHE: A feeling of strong confidence after RS with the company | BUY - Top Picks | CHF315 vs. CHF300

ROCHE - BUY - Top Picks | CHF315 vs. CHF300 (+15%)
A feeling of strong confidence after RS with the company

Sales from new drugs and biosimilar impact both expected higher
Royalties and other income not expected to collapse
2020 will be tough but there are upsides to the central scenario
Our sequence of EPS is increased by 2-4% and our FV to CHF315

20/02/2019 3 EN

Underlying

Roche Holding AG

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CH0012032113 Six Swiss Exchange Switzerland

Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Eric Le Berrigaud

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ROCHE: A feeling of strong confidence after RS with the company | BUY - Top Picks | CHF315 vs. CHF300

BiG Research Flash Note: Roche

ROCHE: Acquisition of Spark Therapeutics | BUY - Top Picks | CHF315

Onward: Model Update

Hugo Boss: Weak China and month of April spoilt the mood

Egetis reports Q1, on track with US trial

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