Valneva: Oddo BHF confirms buy recommendation
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Valneva shares, with an unchanged target price of E12.
The broker points out that H1 revenues were down 4% at E70.8m (-6% vs Css) with product sales down 2% at E68.3m (-5% vs Css).
Valneva had a robust cash position of E131.4m at end-June 2024, which we consider sufficient, the analyst says.
Valneva has confirmed its 2024 guidance, with total sales of E170m-E190m, with product sales of E160m-E180m.
The company should benefit from the favorable momentum expected in the travel market in the short/medium term, as well as from the launch of Ixchiq (possible stock piling announcement not integrated by Css), it concludes.
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker points out that H1 revenues were down 4% at E70.8m (-6% vs Css) with product sales down 2% at E68.3m (-5% vs Css).
Valneva had a robust cash position of E131.4m at end-June 2024, which we consider sufficient, the analyst says.
Valneva has confirmed its 2024 guidance, with total sales of E170m-E190m, with product sales of E160m-E180m.
The company should benefit from the favorable momentum expected in the travel market in the short/medium term, as well as from the launch of Ixchiq (possible stock piling announcement not integrated by Css), it concludes.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.