Sandoz shares experienced a significant increase of 3.3% on Wednesday, reaching a new record high of CHF 39.38. This surge in share price can be attributed to the company's strong performance in the third quarter, which exceeded expectations.
Year-to-date, the stock has seen a remarkable gain of over 40%, in contrast to the overall market decline of 0.33% as measured by the SPI. Analysts at ZKB have acknowledged the robust sales figures, which provide a solid foundation for the company's raised guidance. However, they anticipate only a marginal increase in consensus estimates.
Vontobel has highlighted Sandoz's effective execution of its strategy and expects several upcoming market launches to further boost growth. The bank maintains a price target of CHF 45 and reiterates its "buy" recommendation.