BioMérieux: share up, as RBC sees potential

(CercleFinance.com) - bioMérieux shares were one of the best performers on the SBF 120 index on Wednesday morning on the Paris Bourse, buoyed by favorable comments from analysts at RBC.


At around 11am, the stock was up 2%, while the SBF was virtually unchanged.

In a report last night, RBC said it had initiated coverage of the stock with an 'outperform' opinion and a target price of E130, representing over 30% upside potential.

In view of its strong market positioning and impressive track record in terms of execution, we believe that the current discount to other IVD specialists is unjustified, the Canadian broker says.

RBC believes that the Lyon-based group is in a position to continue increasing its market share in the microbiological analysis segment, which currently stands at almost 40% in a sector estimated at E3bn, notably through the launch of new devices.

The broker thus expects average annual sales growth above the 8% forecast at constant exchange rates provided by the company for 2024-2028, as well as an operating margin of 20% by 2027, in line with the company's target.


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