Morgan Stanley Initiates Coverage On Novartis with Equal-Weight Rating, Announces Price Target of $114
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Mark Purcell has initiated coverage on Novartis with an Equal-Weight rating and set a price target of $114. The initiation of coverage is a neutral stance and the price target suggests a view on the stock's future performance.
January 23, 2024 | 11:49 am
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Morgan Stanley initiated coverage on Novartis with an Equal-Weight rating and a price target of $114, indicating a neutral outlook on the stock.
The initiation of coverage by a major analyst like Morgan Stanley generally brings a stock into focus for investors. An Equal-Weight rating suggests that the analyst believes Novartis will perform in line with the sector or the overall market. The price target of $114 provides a benchmark for investors, but since it is not a strong buy or sell rating, the short-term impact on the stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100