Grifols: Invest Securities still buying, trims TP
(CercleFinance.com) - Invest Securities confirms its 'buy' rating on Grifols shares, trimming its TP from E16 to E15, after the Spanish healthcare group published rather mixed Q3 results.
While satisfied with the growth momentum of the company's Biopharma division, the broker believes that the margin achieved is not up to scratch and makes the mid-point of the EBITDA margin guidance very difficult to achieve.
Over and above speculation about Brookfield's potential takeover bid, an operation that promises to be highly complex and uncertain, Invest Securities nevertheless believes that Grifols shares are trading at levels well off their potential on the plasma market.
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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.
While satisfied with the growth momentum of the company's Biopharma division, the broker believes that the margin achieved is not up to scratch and makes the mid-point of the EBITDA margin guidance very difficult to achieve.
Over and above speculation about Brookfield's potential takeover bid, an operation that promises to be highly complex and uncertain, Invest Securities nevertheless believes that Grifols shares are trading at levels well off their potential on the plasma market.
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.