Novartis price target raised to $112 from $106 at HSBC

HSBC raised the firm’s price target on Novartis (NVS) to $112 from $106 and keeps a Reduce rating on the shares as part of a 2026 outlook for the pharma group. The firm believes the sector is well positioned to outperform in 2026, “even more so if AI panic kicks in.” HSBC’s preferred stocks are “growth bucket ideas,” but says “fallen angels and value could work as well.”