Societe Generale upgraded Roche to Buy from Hold with a price target of CHF 375, up from CHF 365. With the stock’s relative discount to global peers now close to five-year lows, the firm says "enough is enough," pointing to four reasons that it expects the stock to re-rate. Among them, Societe Generale cites expectations for growth to "materially accelerate" in 2024, Roche having at least one major pipeline catalyst from 2024 to 2026, the view that M&A concerns should diminish as confidence increases in the new CEO and valuation.
Published first on TheFly
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