BioMérieux: Oddo BHF still neutral

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on bioMérieux shares, with an unchanged target price of E113.


The in vitro diagnostics specialist posted Q2 sales of E937m (above consensus of E913m), with organic growth of 10%, for a total of E1902m at end-June (above Css: E1878m), and H1 operating income of E306m (above consensus: E300m).

The analyst points out that at the CMD, bioMérieux's management outlined a topline growth trajectory of at least 7% p.a. by 2028, and an operating income increase of 10% p.a. According to Oddo BHF, the 2024 profile would therefore be somewhat above this trajectory.

Against this backdrop, the broker expects a positive reaction. The share price has changed little over the past 1 year. The share retains its qualities (innovation and visibility, captive business, cash generation, good execution...). The publication should act as a positive catalyst, it adds.


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