Sanofi: share rises on Berenberg's upgrade

(CercleFinance.com) - On Tuesday, Berenberg raised its recommendation on Sanofi from "hold" to "buy", with a price target raised from 107 to 115 euros, judging the stock to be undervalued despite a "pipeline" that is tending to improve.


In a note, Berenberg points out that the pharmaceutical group has been trading at a discount for over ten years now, due to its inability to build a portfolio of drug projects deemed attractive.

The analyst, who points out that research and development (R&D) efforts take time to materialize, explains that he has nevertheless observed the first signs of improvement in the profitability of the laboratory's R&D investments.

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