Downgrades Buy Neutral X

NVS Novartis AG

UBS

Initiated Underweight X

NVS Novartis AG

Morgan Stanley

Downgrades Hold Reduce X

NVS Novartis AG

HSBC Securities

Downgrades Buy Neutral X

NVS Novartis AG

BofA Securities

$135 $130

Downgrades Buy Neutral X

NVS Novartis AG

Goldman

Downgrades Buy Hold X

NVS Novartis AG

Jefferies

Downgrades Buy Hold X

NVS Novartis AG

Deutsche Bank

Initiated Buy X

NVS Novartis AG

Goldman

$120

Initiated Market Perform X

NVS Novartis AG

BMO Capital Markets

$114

Initiated Equal-Weight X

NVS Novartis AG

Morgan Stanley

$114

Resumed Buy X

NVS Novartis AG

UBS

Downgrades Buy Hold X

NVS Novartis AG

HSBC Securities

Initiated Buy X

NVS Novartis AG

HSBC Securities

Upgrades Hold Buy X

NVS Novartis AG

Deutsche Bank

Downgrades Buy Neutral X

NVS Novartis AG

Citigroup

Upgrades Hold Buy X

NVS Novartis AG

Stifel

Downgrades Neutral Underperform X

NVS Novartis AG

Credit Suisse

Downgrades Buy Hold X

NVS Novartis AG

Berenberg

Downgrades Outperform Peer Perform X

NVS Novartis AG

Wolfe Research

Resumed Buy X

NVS Novartis AG

Citigroup

Initiated Mkt Perform X

NVS Novartis AG

Bernstein

Downgrades Buy Hold X

NVS Novartis AG

Argus

Downgrades Outperform Mkt Perform X

NVS Novartis AG

Cowen

$110 $105

Initiated Buy X

NVS Novartis AG

Deutsche Bank

Upgrades Neutral Buy X

NVS Novartis AG

Guggenheim

Upgrades Hold Buy X

NVS Novartis AG

Liberum

Downgrades Eq-Weight Underweight X

NVS Novartis AG

Morgan Stanley

Downgrades Neutral Underweight X

NVS Novartis AG

JP Morgan

Resumed Buy X

NVS Novartis AG

Jefferies

Initiated Neutral X

NVS Novartis AG

Guggenheim

Upgrades Underperform Buy X

NVS Novartis AG

BofA/Merrill

Downgrades Buy Hold X

NVS Novartis AG

HSBC Securities

Upgrades Underperform Neutral X

NVS Novartis AG

Credit Suisse

NVS  Novartis AG

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company's segments include Innovative Medicines, Sandoz, Alcon and Corporate activities. Innovative Medicines researches, develops, manufactures, distributes and sells patented prescription medicines to develop health outcomes for patients and healthcare providers. Sandoz develops, manufactures, distributes and sells prescription medicines, as well as pharmaceutical active substances that are not protected by valid and enforceable third-party patents. Alcon researches, develops, manufactures, distributes and sells eye care products. Alcon is a provider of eye care with product offerings in eye care devices and vision care. The Company's range of products includes pharmaceuticals and oncology medicines, generic and biosimilar medicines, and eye care devices.