Grifols: shares up after Berenberg raises target price

(CercleFinance.com) - Shares in Spanish blood product company Grifols are one of the top gainers on Madrid's IBEX 35 index on Wednesday, rising almost 2% to 34 euros, after Berenberg raised its target price for the share to 33.
85 euros from 30 euros.

"In a tightening plasma products market, Grifols has the raw material and production capacity to improve revenue growth and margins," the analyst said.

Berenberg wrote in the report that it forecasts a 2020-2024 adjusted EPS compound annual growth rate (CAGR) of 12.7%.

The broker, which however has a "hold" rating on the Grifols share, has also raised its target price for the B shares to 28.80 euros from 25.50 euros.

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