Novartis : An attractive valuation for a more favourable trend at year-end
>Sandoz masks brisk momentum of pharma - Novartis reported its Q1 2021 results yesterday. The momentum observed in Q1 was largely predictable (and even pre-announced during Q4) with a naturally unfavourable comparative base and accompanied by a winter season with few pathologies. We therefore consider this Q1 as a parenthesis to the growth considered in our model (2020-2024e EPS CAGR of +7.5%). The maintenance of the annual guidance reflects management's confiden...Novartis is a multinational healthcare group based in Switzerland. Co. provides healthcare solutions that address the evolving needs of patients and societies worldwide. Co.'s broad portfolio includes innovative medicines, eye care products and cost-saving generic pharmaceuticals. Co.'s operations are organized along three operating divisions: Innovative Medicines Division; Sandoz Division; and Alcon Division. Co.'s operations are supported by the Novartis Institutes for BioMedical Research and Novartis Business Services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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