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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (20479)	1/18/2005 6:41:52 AM
From: puborectalis	Read Replies (1) \| Respond to of 78752

Merrill Lynch (NYSE: MER - news) overnight raised its rating on Swiss pharmaceuticals maker Novartis (Virt-X: NOVN.VX - news) to 'buy' from 'neutral' and set a price target at 64 Swiss franc. The shares are trading in line with its peer group at 17.6 times its 2005 earnings estimate, the broker said. 'We estimate the peak sales potential of the late stage pipeline to be $5.1bn, putting Novartis's pipeline second only to Sanofi-Aventis (Paris: FR0000130460 - news) in the global sector when compared to the company's existing sales base,' Merrill told clients.