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The Swiss stock market continued its upward trend, with the SMI closing 0.4% higher at 13,004.48 points, despite geopolitical uncertainties and renewed tariff threats from the US. Holcim led the gainers with a 3.0% rise after solid annual results, while Logitech fell 4.7% following a downgrade by Bank of America. Overall, the market showed increased volatility, reflected in a 5.3% rise in the VSMI index.
Swiss exports experienced a significant decline in January, dropping by 6.9% month-on-month to 22.7 billion francs. This downturn was primarily attributed to the chemicals and pharmaceuticals sector, which weighed heavily on foreign trade performance.
The Lucerne Festival faces a funding crisis as main sponsor Sibylla and Christoph M. Müller withdraw support over the retention of Walter Kielholz on the Board of Trustees, citing his role in the Credit Suisse scandals. The festival defends Kielholz, emphasizing his contributions, while asserting its financial stability and finding a replacement sponsor.
The Lucerne Festival faces a significant setback as main sponsors Christoph and Sibylla M. Müller withdraw their support over a dispute regarding former Credit Suisse executives Urs Rohner and Walter Kielholz. The couple, who have backed the festival for 25 years, demand a reevaluation of values in cultural sponsorship, citing concerns over reputation-washing. Despite Rohner's resignation, the Müllers remain firm in their decision, redirecting their funding to other institutions.
The SPI index in Zurich rose 0.12% to 16,730.04 points, reflecting a 7.81% increase since the start of 2025. Top gainers included Leclanche (+12.08%) and Evolva (+6.19%), while Perrot Duval SA (-13.33%) and HOCHDORF (-11.90%) faced significant losses. UBS shares led in trading volume, with Roche holding the highest market capitalization at EUR 261.013 billion.
Roche shares rose 1.3% after UBS upgraded its recommendation from 'neutral' to 'buy', increasing the price target from CHF 300 to CHF 338. The firm highlighted sustainable growth driven by products like Vabysmo and Ocrevus, with potential for $16 billion in additional sales from new developments.
Roche shares rose 1.3% on Zurich's SMI index following an upgrade from UBS, which changed its recommendation from 'neutral' to 'buy' and increased the price target from CHF 300 to CHF 338. The firm highlighted sustainable growth driven by key products like Vabysmo and Ocrevus, with potential for $16 billion in additional sales from drugs in development for various conditions.
UBS has adjusted its ratings on key European pharmaceutical companies, downgrading Novartis to Neutral due to concerns over patent expirations and a limited pipeline, while upgrading Roche to Buy, citing strong growth prospects and a robust pipeline. AstraZeneca also received a Buy upgrade, driven by its sector-leading pipeline potential, with both companies seeing significant increases in their price targets.
UBS has downgraded Novartis to Neutral from Buy, citing concerns over patent expirations and a limited pipeline, with EBIT growth expected to decline significantly in 2025. In contrast, Roche and AstraZeneca received upgrades to Buy, driven by strong pipeline prospects and revenue growth potential, with Roche's price target raised to CHF 338 and AstraZeneca's to £142.
UBS has named Roche as its preferred Swiss pharmaceutical stock, upgrading its rating to "Buy" and raising the target price from CHF 300 to CHF 338. The firm cites Roche's sustainable growth, driven by strong performances from Vabysmo and Ocrevus, and anticipates significant sales increases from ongoing development projects, including Ocrevus HD and Trontinemab. While Roche's earnings per share growth is projected at 8.1% from 2024 to 2029, slightly below the industry average, UBS remains optimistic about the company's long-term potential and cash flow for acquisitions.
Hoffmann-La Roche AG
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Swiss stock market gains despite geopolitical uncertainties and mixed corporate earnings
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06:52 28.02.2025
swiss exports decline due to chemicals and pharmaceuticals in january
14:36 20.02.2025
Lucerne Festival faces funding crisis amid board dispute and sponsor withdrawal
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20:22 16.02.2025
dispute leads major sponsors to withdraw support from lucerne festival
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11:11 16.02.2025
Zurich SPI Index Shows Modest Gains Amid Mixed Stock Performance
10:48 16.02.2025
Roche shares rise after UBS upgrades recommendation to buy
14:36 13.02.2025
Roche shares rise after UBS upgrades recommendation to buy
14:33 13.02.2025
ubs adjusts ratings on european pharma stocks novartis downgraded roche upgraded
13:14 13.02.2025
ubs downgrades novartis while upgrading roche and astrazeneca ratings
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13:01 13.02.2025
ubs upgrades roche to preferred pharmaceutical stock with strong growth potential
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12:00 13.02.2025
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