Sanofi: heads the CAC, thanks to UBS comments
(CercleFinance.com) - On Wednesday the Sanofi share leads the CAC 40, with UBS analysts upgrading it to buy.
Its share is currently up 2% at 76.9 euros, while the CAC is down 0.7%.
"The current share price implies, with consumer health on a peer multiple, the pharma and vaccines businesses are being assigned 9.8x 2020 PE for c.3% 19-23 CAGR," UBS says.
UBS has therefore upgraded its rating on the share from "neutral" to "buy," while raising its corresponding target price from 79 euros to 87 euros.
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