BofA upgraded Roche to Buy from Neutral with a price target of CHF 340, up from CHF 290. The company’s earnings downgrade cycle has “troughed” and it has three potential over $5B assets, the analyst tells investors in a research note. The firm’s highest conviction asset is giredestrant, with first-line breast cancer data in mid-2025. Bofa says the upgrade is not heavily predicated on material success in obesity for Roche but rather the company’s multiple pipeline options.
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