Accueil > Actualité
Actualite financiere : Actualite bourse

Recordati: Credit Suisse downgrades to sell

(CercleFinance.com) - This morning Credit Suisse has downgraded its neutral rating on the share of Italian pharmaceutical Recordati, spent to sell ("underperform"), with a target price of 35 euros (the share is currently trading at 37 euros).


Analysts welcome the group's favourable history in terms of both organic and external growth, which are each around 5%, as well as its ability to quickly make accretive acquisitions.

Since the group is controlled by a private equity fund (CVC), the market anticipates an acceleration in the number of deals. Credit Suisse believes in this assumption, although fears that Recordati is turning to specialty products requiring marketing and R&D efforts, areas in which the group's track record is not the most convincing, the broker says.

Finally, the Recordati share is trading at a 2020 P/E of 21.8x, which represents a premium of 22% relative to its sector.


Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
 

societes

marches

tendances

 
Qui sommes-nous ? | Nous contacter | FAQ | Mentions légales | RSS | © Copyright 2007 Cercle Finance. Tous droits réservés.
Indices et cours différés d’au moins 15 mn | Cotations boursières fournies par ABC Bourse.