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Fresenius SE: shares up on positive broker note

( - Shares in Fresenius SE, a German diversified healthcare group, rose on Friday on the back of positive broker comments.

Analysts at Berenberg this morning reiterated their "buy" rating on the stock, with a target price of 59.5 euros.

Berenberg said that the Fresenius shares have recently been sold off on fears related, amongst other things, to its liquidity and debt position.

However, the stock is currently trading at a 2021 P/E of just 9.0x, which is "absurdly low" for a company that is expected to achieve an average EPS growth of 11% per year over 2021-25, the broker said.

At midday the stock was trading up 1.5% in a DAX index that was down about 0.7%.

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