Goldman Sachs Lowers Novartis Rating to Sell and Reduces Price Target to $118
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 12 2025
0mins
Should l Buy NVS?
Source: Benzinga
Real-time Intelligence: Benzinga Pro offers traders the fastest news alerts to enhance their market strategies and decision-making.
Exclusive Community: Joining Benzinga Pro connects users with over 10,000 serious traders and provides access to unique stories and insights from Benzinga reporters.
Discover Tomorrow's Bullish Stocks Today
Analyst Views on NVS
Wall Street analysts forecast NVS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVS is 127.75 USD with a low forecast of 112.00 USD and a high forecast of 143.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
1 Buy
4 Hold
1 Sell
Hold
Current: 148.680
Low
112.00
Averages
127.75
High
143.00
Current: 148.680
Low
112.00
Averages
127.75
High
143.00
About NVS
Novartis AG is a Switzerland-based pharmaceutical company. The Company develops, manufactures, and markets branded and generic prescription drugs, active pharmaceutical ingredients (APIs), biosimilars and ophthalmic products. The Company uses science and digital technologies for treatments in the disease areas of immunology, dermatology, cancer, ophthalmology, neuroscience, respiratory, cardiovascular, renal and metabolism. The business activities of the Company are divided into two segments: Innovative Medicines, which includes innovative patent-protected prescription medicines for blood pressure, cancer and other ailments, and Sandoz, which includes generic pharmaceuticals and biosimilars.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Market Leadership: Alcon Inc. is the world's largest pure-play eye care device company, with its global vision care market share projected to increase from 11.7% in 2020 to 13.5% in 2024, showcasing its competitive edge in a $35 billion market and bolstering investor confidence.
- Profitability Enhancement: The Surgical segment generates approximately 60% of EBIT, leveraging strong brand leadership and high-margin consumables, with operating margins expected to rise to 20-25%, providing long-term visibility into future cash flows.
- Innovation Platform Rollout: The multi-year rollout of the new UNITY surgical platform aims to replace existing equipment and enhance hospital efficiency; despite execution risks, the market has yet to fully recognize its potential for a ~7% revenue CAGR.
- Investment Appeal: Although Alcon's stock price has depreciated by about 8.66% since last year, the valuation framework suggests a price range of $65 to $138 based on a 20x P/E multiple, indicating significant upside potential that has attracted interest from 41 hedge funds.
See More
- Clinical Trial Progress: Avalo Therapeutics has completed enrollment for the Phase 2 LOTUS trial of AVTX-009, involving approximately 250 adults with moderate to severe hidradenitis suppurativa, aimed at evaluating the efficacy and safety of subcutaneous bi-weekly and monthly dosing regimens, with topline data expected in mid-2026.
- Stock Volatility Risk: Analyst Cantor highlights that if the stock underperforms, it could decline by 85-90%, while Agarwal sees potential upside even if the HiSCR75 change is around 18%-19%, though the Phase 3 trial poses risks that may dampen investor confidence.
- Potential Upside Forecast: Should the HiSCR75 change fall between 20-25%, Avalo's stock could rally by 100-150%, and if it drops to 25-30%, the stock might skyrocket over 200%, indicating the market's sensitivity to efficacy outcomes.
- Analyst Rating Trends: Recently, Avalo Therapeutics has seen a positive trend in analyst ratings, with Guggenheim and HC Wainwright & Co. both issuing 'Buy' ratings, with Guggenheim setting a target price of $50.00, reflecting a bullish outlook for the company.
See More

- International Dividend Stock Advantage: The Vanguard International High Dividend Yield ETF tracks an index of high-dividend stocks outside the U.S., holding over 1,500 stocks across emerging and developed markets, providing diverse investment options suitable for long-term investors.
- Reasonable Expense Ratio: With an expense ratio of 0.17%, this ETF performs well among specialized index funds, especially considering many of its holdings are listed only on foreign exchanges, which helps reduce investment costs.
- Attractive Valuation: Despite being near an all-time high, the average P/E ratio of stocks in the ETF is only 13.5, with an average earnings growth rate of 12.8%, compared to over 20 for U.S. counterparts, which have a lower growth rate of 11.6%.
- Dividend Yield Potential: Currently, the Vanguard International High Dividend Yield ETF offers a dividend yield of approximately 3%, making it an excellent choice for diversification, income, and total return potential, even when considering currency fluctuations and geopolitical risks.
See More
- High Dividend Yield: The Vanguard International High Dividend Yield ETF offers a yield of about 3%, providing investors with a solid income and diversification potential even as its shares approach all-time highs, particularly in the current market environment.
- Valuation Advantage: With an average P/E ratio of just 13.5 times earnings, this ETF is significantly undervalued compared to the U.S.-focused Vanguard High Dividend Yield ETF, which has a P/E ratio exceeding 20, making it appealing for long-term investors seeking value.
- Broad Market Coverage: The ETF holds over 1,500 stocks across emerging and developed markets, with no single stock accounting for more than 1.8% of the portfolio, enhancing diversification and reducing the risk associated with individual stock volatility.
- Risk Considerations: While investing in international stocks carries risks such as currency fluctuations and geopolitical tensions, the substantial discount at which the Vanguard International High Dividend Yield ETF trades makes it attractive for investors seeking income and capital appreciation.
See More
- Industry Recognition: Akeso's ivonescimab has been included in FirstWord Pharma's list of 20 key drugs that will shape the global pharmaceutical industry in 2026, highlighting its significant role in innovative drug development and likely boosting the company's international recognition and competitiveness.
- Unique Advantage: As the only drug on the list originating from a Chinese innovative pharmaceutical company, ivonescimab's inclusion not only showcases China's rise in the global pharmaceutical sector but may also attract more investor interest in Akeso's R&D potential and market outlook.
- Global Strategy: Akeso is committed to its global
See More
- Expansion of Drug Negotiations: The Trump administration has expanded Medicare drug price negotiations to include treatments administered in doctors' offices for conditions such as diabetes and HIV, affecting 15 drugs set to take effect in 2028, aiming to reduce out-of-pocket costs for beneficiaries.
- Spending Overview: According to the Centers for Medicare and Medicaid Services, approximately 1.8 million beneficiaries utilized these medications between 2024 and 2025, accounting for about $27 billion in spending, highlighting the significance of Medicare expenditures in drug price negotiations.
- Pharmaceutical Impact Assessment: Analysts indicate that for 14 of the drugs, only Gilead's Biktarvy significantly impacts the company's estimated 2027 global sales, representing around 8%, while other drugs' Medicare revenue exposure is limited to 0% to 3%, suggesting minimal overall revenue impact for pharmaceutical companies.
- Kaiser Settlement on Fraud: Kaiser Permanente has agreed to a historic $556 million settlement over Medicare Advantage fraud allegations, reflecting the government's stringent enforcement stance on Medicare fraud, which could have far-reaching implications for the industry.
See More









