Barclays upgrades Sandoz to 'overweight'/shr on 'rich runway'

Sandoz AG

05/05/2026 09:29

** Barclays upgrades Swiss generic and biosimilar drugmaker Sandoz SDZ.S to "overweight" from "equal weight" due to a robust upcoming product pipeline and compelling valuation
       ** The broker expects a "Golden decade" of patent expiries to offer a "very rich runway" of launch opportunities for biosimilars from 2028 onward
       ** Barclays adds that the stock dropped 15% over March and April making its valuation highly compelling as it now trades at about 17 times its expected 2027 price-to-earning ratio
       ** The analyst anticipates sales growth to accelerate through 2026 and believes the firm could host a capital markets day within the next year to raise its mid-term guidance
      ** Barclays leaves its price target unchanged at CHF 75/shr indicating a roughly 20% potential upside supported by sustainable medium-term growth and the lack of a patent cliff

**  Out of 17 analysts that cover Sandoz Group AG, eight rate the stock "strong buy" or "buy,"​seven rate "hold" andtwo​ rate the stock "strong sell" or "sell" - LSEG data

(Reporting by Orest Dovhan )

((Orest.Dovhan@thomsonreuters.com))