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Post's price target increase is in line with his move on the GAAP price-to-earnings multiple to 22 from 21. — Alex Harring 6:39 a.m.: Melius moves to sidelines on Boeing Boeing has too many areas of concern, Melius Research warned. Analyst Robert Spingarn downgraded the plane maker to hold from buy and slashed his price target by $71 to $209. Analyst Filippo Falorni upgraded the cosmetics stock to buy from neutral and hiked his price target by $15 to $175. Analyst Brennan Hawken downgraded the investment asset manager to neutral from buy and cut his price target by $5 to $135.

Persons: Grinder, Justin Post, Meta, — Alex Harring, Eli Lilly, Andrew Baum, Baum, Novo, Robert Spingarn, Spingarn, LSEG, Alex Harring, Filippo Falorni, Falorni, Estee Lauder, Lauder, Tom Ford, Le, Blackstone, Brennan Hawken, Hawken, JMP, Nicholas Jones, Jones, Grindr, Christopher Dendrinos, Dendrinos, — Fred Imbert Organizations: CNBC, RBC, GE, of America, Citi, Indianapolis, Boeing Boeing, Melius, Boeing, Dow Jones, Coca, Cola, Beverage, Travel, UBS, GE Vernova, New York Stock Exchange Locations: Monday's, Asia Pacific, Asia

UBS hiked its price target on Nvidia , citing an attractive valuation and strong demand for its chips. The firm upgraded shares to overweight from neutral and upped its target price by $17 to $68, which implies 24.3% potential upside. He upgraded shares to buy from neutral and increased his price target from £17 to £21. — Pia Singh 5:47 a.m.: UBS hikes Nvidia price target UBS is getting even more bullish on Nvidia ahead of the chipmaker's fiscal fourth-quarter earnings report. Despite the price target increase, Nvidia shares were down 1% in the premarket.

Persons: Riley Securities downgrades, Jeff Lick, Children's, Lick, — Pia Singh, Piper Sandler, Trimble, Clarke Jeffries, Mark Palmer, Palmer, Andrew Baum, Baum, GSK's, Timothy Arcuri, Arcuri, NVDA, Fred Imbert Organizations: CNBC, UBS, Nvidia, Citi, GSK, Riley Securities, Children's, Investment, Block Locations: Lick, Monday's, C2H

☆ Here's what Wall Street is saying about obesity drug Wegovy following Novo Nordisk's key study
▼ + stars: | 2023-11-13 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Wegovy contains semaglutide, the same active ingredient in Novo's type 2 diabetes drug Ozempic. A rising tide for Eli Lilly? Though the study was specifically about Wegovy, Wall Street sees a positive readthrough for similar medications from other providers, particularly Eli Lilly 's Zepbound. Similarly, UBS analyst Trung Huynh called the weekend data a "best-case" scenario for Eli Lilly. And the positive outcomes for both in the Wegovy study can be viewed as encouraging for how Zepbound should perform, the analyst added.

Persons: Morgan Stanley, Mark Purcell, Richard Vosser, Peter Verdult, Eli Lilly, Eli Lilly's, Lilly, Andrew Baum, Trung Huynh, That's, it's, Zepbound, Huynh, Citi's Baum, James Shin isn't, Michael Bloom, Christina Cheddar Berk, Angelica Peebles Organizations: Novo Nordisk, American Heart Association, cardiologists, JPMorgan, Citi, ., UBS, North American, Tandem Diabetes Care, Deutsche Bank

☆ Wall Street hikes forecasts for anti-obesity drug sales to $100 billion and beyond — A look at the numbers
▼ + stars: | 2023-10-23 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Most analysts predict the market for new weight loss drugs like Wegovy and Mounjaro will be enormous, but estimates vary for its exact size depending on who you ask. On Monday, Citi raised its estimate for incretin drug sales to $71 billion by 2035, up from its prior estimate of $55 billion. Last month, the firm made a case for there being a $150 billion to $200 billion opportunity for these drugs. At the moment, private insurance coverage isn't a guarantee for those seeking weight loss treatment, and the federal Medicare program doesn't cover weight loss drugs at all. Lilly expects the Food and Drug Administration to approve this drug to treat obesity by the end of this year.

Persons: Seamus, Fernandez, Andrew Baum, Goldman Sachs, Chris Shibutani, Shibutani, Eli Lilly, Lilly Organizations: Monday, Citi, Wegovy, Food and Drug Administration Locations: GLP

☆ Buy these cheap, defensive stocks as long as recession fears keep mounting, UBS says
▼ + stars: | 2023-05-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As recession fears keep flaring up again on Wall Street, investors can find safety in cheap, dependable, defensive stocks, according to UBS. The UBS playbook advises investors to stick to defensive stocks rather than the types of cyclical companies stocks that have benefited from high inflation. To be sure, investors have worried that defensive stocks have grown too expensive. But UBS pointed to several defensive groups that remain cheap, including telecom and insurance. Given this backdrop, here are some of UBS' cheap defensive stocks.

LONDON, April 26 (Reuters) - GSK (GSK.L) began 2023 with a quarterly performance that beat analyst expectations and extended a series of positive results following strong sales of its roster of vaccines as well as HIV and respiratory medicines. Investors are also concerned about the company's long-term prospects, given the pending loss of patent protection of one of GSK's HIV compounds and setbacks in its marketed oncology portfolio. GSK is also relying in part on its potential blockbuster vaccine for RSV, which leads to thousands of hospitalisations and deaths each year. It anticipates launching the vaccine later this year in the U.S. and Europe, pending regulatory approval, as does rival Pfizer (PFE.N). ($1 = 0.8039 pounds)Reporting by Maggie Fick and Natalie Grover in London, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Citi is bullish on Merck , saying that the company's drug pipeline is underappreciated by the market. The exclusive license and collaboration agreement for ADC development helps Merck in developing more cancer treatment drugs — and Citi thinks it could rival its competitors' offerings. Citi anticipates further upside for Merck shares from the Inflation Reduction Act. To be sure, Baum noted a key downside risk to his valuation is if the ADC pipeline disappoints. Further risks include lower-than-anticipated value share capture by the company's Melanoma treatment drug Keytruda, and a slowdown in its animal health business.

In 2023, it expects revenue to be $67 billion to $71 billion. Excluding the COVID-19 drugs, Pfizer expects 2023 revenue to grow 7% to 9%. Pfizer developed its COVID-19 vaccine with German partner BioNTech , and the companies split the profits. The U.S. drugmaker forecast 2023 sales of $13.5 billion from the shot, below Refinitiv estimates of $14.39 billion, and projected $8 billion in sales of Paxlovid, short of analysts' expectation of $10.33 billion. After that transition, the company hopes to roughly quadruple the U.S. price of the COVID-19 vaccine.

☆ Eli Lilly Alzheimer's drug setback extends rival Biogen's lead - analysts
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

Jan 20 (Reuters) - The U.S. health regulator's rejection of accelerated approval for Eli Lilly and Co's Alzheimer's disease drug extends the market lead for rivals Eisai and Biogen's treatment by months, analysts said. "This is a modest positive for Biogen" because it delays donanemab's launch, Jefferies analyst Michael Yee said, adding that Eli Lilly could file for traditional approval by mid-2023. The setback for Lilly comes just weeks after the FDA granted Biogen Inc (BIIB.O) and Japanese drugmaker Eisai Co Ltd's (4523.T) accelerated approval for their Alzheimer's drug Leqembi. read moreAnalysts are waiting for the traditional approval of Biogen's drug and for wider health insurance coverage before they expect sales of the drug to pick up. "But if there is anything wrong with the (Eli Lilly) data set, it is easier to reject an unapproved drug than remove an approved drug from market," said Skorney.

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