JP Morgan upgraded Novartis NVS from Neutral to Overweight.
JP Morgan analyst Alexandra Hauber noted, "We upgrade Novartis to overweight from Neutral with a new 18 month price target of Sfr 78 assuming the stock can approach a sector multiple by mid 2014 which reflects FCF growth beyond 2019 of just below 1%."
Novartis closed at $68.60 on Wednesday.
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