TD Cowen Says Novartis (NVS) Has Strong Growth Path Through 2029

Novartis AG (NYSE:NVS) ranks among the best slow growth stocks to invest in. Following meetings with Novartis AG (NYSE:NVS)’s head of U.S. operations in Boston, New York, and San Francisco, TD Cowen reaffirmed its Hold rating on the company’s shares on November 10 with a price target of $140. The meetings revealed a number of growth drivers that support Novartis’ estimated 6% sales CAGR from 2024 to 2029.

Existing medicines like Cosentyx, Pluvicto, Kisqali, Leqvio, Kesimpta, and Scemblix were noted as significant growth contributors and are anticipated to assist the company in overcoming generic erosion challenges, especially for Entresto.

TD Cowen also emphasized Novartis’ stronger foothold in immunology through Rhapsido and ianalumab, which the firm termed as “substantially de-risked” given recent clinical evaluations and poised to contribute meaningfully to growth before 2030.

Additionally, on November 20, the Swiss drugmaker revised its mid-term sales target for 2025-2030 to reflect a CAGR of 5-6% in constant currencies. Novartis AG (NYSE:NVS) also stated that it aims to return to margins above 40% by 2029, after absorbing 1-2 percentage points of dilution from the anticipated acquisition of Avidity Biosciences.

Novartis AG (NYSE:NVS) is an innovative medicines company‌ that discove‍rs, deve‍lop⁠s, a​nd manufactures treatments designed to​ improve⁠ and extend lives while tackling serious diseases.

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Disclosure: None. This article is originally published at Insider Monkey.