Morgan Stanley upgraded Novartis (NVS) to Overweight from Equal Weight with a price target of CHF 110, up from CHF 108. The firm cites valuation for the upgrade following the recent shared selloff. Novartis is underdoing an improving portfolio mix into the upcoming Rhapsido launch, the analyst tells investors in a research note. Morgan Stanley expects the company’s 2026 growth to be modest, but anticipates an acceleration from 2027.
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