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Sanofi: Stifel raises target price

(CercleFinance.com) - Stifel confirms its 'buy' recommendation on Sanofi shares, with a target price raised from E111 to E116, following the announcement of mixed clinical data from its Phase 3 program evaluating tolebrutinib in multiple sclerosis (MS).


The success of HERCULES is what really counts, the broker says, for which the "clinically significant" nature of the results in non-active secondary-progressive MS paves the way for a "multi-blockbuster" in this indication alone.

Stifel says that the success of this study, beyond its symbolic significance, would mean that the choices made were the right ones, and that Sanofi should be able to capitalize on its historical expertise in MS.


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