BofA Upbeat on Novartis' Growth After Q3 Results; Buy Maintained

09:15 AM EDT, 10/27/2026 (MT Newswires) -- BofA Global Research is optimistic on Novartis' (NOVN.SW) growth after the Swiss pharmaceutical major delivered better-than-expected EPS in the third quarter and in-line sales figures. The company's core EPS rose 9% year over year to $2.46, beating consensus by 7%, the research firm said in a Tuesday note. Meanwhile, sales grew 4% to $14.5 billion, in line with market forecasts. Novartis also upgraded its full-year 2026 outlook for core operating income, while leaving its net sales guidance of low single-digit growth unchanged. "On newsflow, CMD (18th-19th Nov) confirming will roll forward existing 25-30E CAGR (at 5-6%) to 26-31E, we think likely above cons' c4% CAGR and we think include c5% in some form. We also see increase in key product peak guides (Scemblix/Leqvio/Pluvicto) & reiterate post-31 mid-sd% growth (we outline 3 areas of delta vs cons as existing launched assets remi and pipeline)," analysts said. "On2H26 pipeline: ianalumab 1L ITP & Rhapsido in HS in 2H26 unchanged, with Leqvio in CVRR-LDLC in ORION-4 now 4Q (prior FY27E). FY27: abelacimab in SPAF, Kesimpta Q2M, Zigakibart IgAN and ianalumab in lupus indications & SSc. Against this backdrop, the stock's buy rating was maintained, with a price objective of 150 francs.