Grifols: Invest Securities still a buyer, adjusts TP
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on Grifols shares, trimming its target price for them from E19 to E18, following a quarterly publication, in which the market aplauded the rebound in margins with the crossing of an inflection point.
This rebound is based on the effective execution of its cost savings plan, while the drop in plasma collection prices that began in August will start to have a positive impact on margins from the second half of the year, the analyst said.
Invest Securities adds that management has reiterated its deleveraging targets through FCF generation and the completion of a transaction in 2023. After some difficult quarters, Grifols is looking to the future positively, he added.
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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.
This rebound is based on the effective execution of its cost savings plan, while the drop in plasma collection prices that began in August will start to have a positive impact on margins from the second half of the year, the analyst said.
Invest Securities adds that management has reiterated its deleveraging targets through FCF generation and the completion of a transaction in 2023. After some difficult quarters, Grifols is looking to the future positively, he added.
Copyright (c) 2023 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.