NVS Novartis AG

FRANKFURT--The following is a summary of analysts' forecasts for Novartis AG (NVS) second-quarter results, based on a poll of six 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 July 19.

=== 
              Net sales: 
2nd Quarter       -total -Pharma  -Diovan -Gleevec -Lucentis 
AVERAGE           12,152   8,092      260      734       463 
Prev. Year        12,694   8,633      333    1,184       537 
+/- in %            -4.3    -6.3      -22      -38       -14 
 
MEDIAN            12,153   8,113      251      779       467 
Maximum           12,285   8,195      292      815       479 
Minimum           12,027   7,947      235      474       435 
Amount                 6       6        6        6         6 
 
Cowen and Company 12,285   8,055      235      815       435 
Deutsche Bank     12,174   8,126      292      776       467 
Jefferies         12,075   8,128      244      772       466 
Morgan Stanley    12,221   8,195      255      781       479 
Vontobel          12,131   8,100      287      788       469 
Zuercher KB       12,027   7,947      246      474       462 
 
                           Core: 
                      -Operating  -Net attrib. 
2nd Quarter               income        profit     -EPS 
AVERAGE                    3,240         2,793     1.19 
Prev. Year                 3,593         3,074     1.27 
+/- in %                    -9.8          -9.2     -6.2 
 
MEDIAN                     3,226         2,815     1.20 
Maximum                    3,370         2,858     1.20 
Minimum                    3,105         2,615     1.18 
Amount                         6             6        6 
 
Cowen and Company          3,370         2,853     1.20 
Deutsche Bank              3,211         2,806     1.18 
Jefferies                  3,210         2,799     1.18 
Morgan Stanley             3,241         2,615     1.19 
Vontobel                   3,305         2,858     1.20 
Zuercher Kantonalbank      3,105         2,824     1.20 
 
 
                 Target price  Rating               DPS 2016 
AVERAGE                 89.50  positive 3   AVERAGE     2.80 
Prev. Quarter           84.17  neutral  3   Prev. Year  2.70 
+/- in %                 +6.3  negative 1   +/- in %    +3.9 
 
MEDIAN                  83.50               MEDIAN      2.80 
Maximum                115.00               Maximum     2.90 
Minimum                 75.00               Minimum     2.70 
Amount                      6               Amount         5 
 
Cowen and Company      115.00  Outperform               2.90 
Deutsche Bank           85.00  Hold                       -- 
Independent Research    82.00  Hold                       -- 
Jefferies              105.00  Buy                      2.70 
Morgan Stanley          75.00  Underweight              2.87 
Vontobel                75.00  Hold                     2.80 
Zuercher Kantonalbank      --  Overweight               2.75 
=== 

Year-earlier figures are as reported by the company - continued operations.

DJG/voi 

(END) Dow Jones Newswires

July 15, 2016 10:46 ET (14:46 GMT)

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