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Sandoz downgraded to Neutral from Buy at UBS

UBS analyst Harry Sephton downgraded Sandoz (SDZNY) to Neutral from Buy with a price target of CHF 44, up from CHF 39.50. The firm cites valuation for the downgrade following the stock’s year-to-date rally. It believes Sandoz’s catalyst path in 2025 now well understood.

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