FRANKFURT--The following is a summary of analysts' forecasts for Novartis AG (NVS) fourth-quarter results, based on a poll of 10 analysts conducted by Dow Jones Newswires (figures in million dollars, EPS in dollar, DPS and target price in Swiss francs, according to IFRS). Earnings figures are scheduled to be released Jan. 27.

=== 
              Net sales: 
 
4th Quarter       -total -Pharma -Diovan  -Gleevec -Lucentis 
AVERAGE           12,717   7,885     266     1,184       479 
Prev. Year        14,633   7,860     379     1,237       588 
+/- in %             -13    +0.3     -30      -4.3       -18 
 
MEDIAN            12,700   7,838     257     1,198       473 
Maximum           13,155   8,250     334     1,239       514 
Minimum           12,324   7,538     235     1,121       440 
Amount (a)             9       8       7         8         8 
 
Baader-Helvea     12,700   7,767     257     1,121       478 
Bernstein         12,664   7,692     243     1,212       467 
Cowen and Company 12,405   7,690     235     1,140       440 
Deutsche Bank     13,155   8,162     334     1,183       514 
Exane BNP Paribas 12,975   8,073      --     1,236       508 
JP Morgan         12,630      --      --        --        -- 
UBS               12,733      --      --        --        -- 
Vontobel          12,863   7,909     282     1,239       507 
Zuercher KB       12,324   7,538     254     1,126       459 
 
 
                        Core: 
                   -Operating    -Net -Net attrib. 
4th Quarter            income  income       profit    -EPS 
AVERAGE                 3,253   2,748        2,747    1.18 
Prev. Year              3,322   2,914        2,918    1.21 
+/- in %                 -2.1    -5.7         -5.9    -2.1 
 
MEDIAN                  3,256   2,872        2,872    1.20 
Maximum                 3,446   2,908        2,907    1.31 
Minimum                 3,064   2,234        2,228    0.98 
Amount (a)                  8       5            5      10 
 
Baader-Helvea           3,064      --           --    1.11 
Bernstein               3,275   2,884        2,884    1.20 
Cowen and Company       3,142   2,843        2,843    1.19 
Deutsche Bank           3,408   2,908        2,907    1.22 
Exane BNP Paribas       3,237      --           --    1.24 
JP Morgan                  --      --           --    1.15 
UBS                        --      --           --    1.24 
Vontobel                3,275   2,872        2,872    1.20 
Zuercher Kantonalbank   3,446   2,234        2,228    0.98 
 
 
                 Target price  Rating               DPS 2015 
AVERAGE                103.88  positive 7   AVERAGE     2.85 
Prev. Quarter          110.57  neutral  2   Prev. Year  2.60 
+/- in %                 -6.1  negative 0   +/- in %     +10 
 
MEDIAN                 102.50               MEDIAN      2.86 
Maximum                115.00               Maximum     2.96 
Minimum                 94.00               Minimum     2.75 
Amount                      8               Amount         5 
 
Baader-Helvea          100.00  Buy                        -- 
Berenberg              105.00  Buy                      2.90 
Cowen and Company      115.00  Outperform               2.96 
Deutsche Bank           94.00  Hold                       -- 
Exane BNP Paribas      110.00  Outperform               2.86 
JP Morgan              110.00  Overweight                 -- 
UBS                    100.00  Buy                        -- 
Vontobel                97.00  Hold                     2.80 
Zuercher Kantonalbank      --  Overweight               2.75 
=== 

Year-earlier figures are as reported by the company.

(a) Including anonymous estimates from one more analyst.

DJG/voi 

(END) Dow Jones Newswires

January 22, 2016 08:51 ET (13:51 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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