Roche (OTCQX:RHHBY)
needed a good second quarter and management delivered, with the
company’s portfolio of new pharmaceuticals helping drive double-digit
growth for the drug business and high single-digit growth for the
business overall. Better still, the pipeline remains stocked with
opportunities, and the company should average about one major read-out a
month for the next 18 months.
Valuation remains
attractive, particularly in light of upgraded near-term expectations.
Fair value remains in the mid-$30s, and management indicated that a
higher dividend should be on the way.
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Strong Growth In New Drugs Propelling Roche
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