0859 GMT - Novartis completed a successful transformation and now outperforms its peers, but growth is set to normalize, Vontobel's Stefan Schneider writes. The Swiss pharma group's valuation now reflects its recent growth, though this happened more slowly than expected given nine straight quarters of Novartis beating and raising guidance, the analyst says. This is unlikely to be repeated when the company releases third-quarter results later this month, its first report since heart failure drug Entresto lost patent exclusivity, the analysts add. Novartis seems poised to deliver slower growth going forward, the analyst says. Vontobel cuts its recommendation on Novartis stock to hold from buy and keeps its target price of 112 Swiss francs. Shares fall 1.1% to 102.92 francs. (william.gray@wsj.com)

(END) Dow Jones Newswires

October 15, 2025 04:59 ET (08:59 GMT)

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