Stifel reiterates its 'buy' recommendation on Sandoz, with a price target raised from CHF 40 to 42, in the wake of EPS estimates for 2024-25 raised from 4.4% to 4.9%, based on faster-than-expected margin improvement.

Following the Group's conference and discussions with management, the broker considers the Swiss manufacturer of generic and biosimilar drugs to be on track to achieve its short- and medium-term ambitions.

'Since the demerger (which took effect at the beginning of last October), many achievements have already brought Sandoz closer to its 2028 targets, starting with numerous pipeline advances', it stresses.

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