Roche: best pick for Oddo in current context
(CercleFinance.com) - Oddo BHF reiterated Friday its "neutral" opinion and its target price of 266 Swiss francs for the Roche share after the emergency authorization, by the American authorities, of its high-speed tests for the detection of Covid-19.
In comments released in the morning, the Parisian broker mentions a "small step" for Roche, but "a giant leap for humanity," as this decision will drastically change screening capabilities on a global scale.
Roche believes that its production capacity could be pushed to the maximum and reach several million tests per month.
It is, however, difficult to assess at this stage the financial impact of the availability of these new tests on the Swiss group, Oddo argues, which nevertheless recalls that a Covid-19 test is billed around a fifty euros in Europe and around one hundred dollars in the United States.
In view of these elements, Oddo BHF makes Roche its "preferred" value in the current context of the coronavirus pandemic.
The Roche share is up over 8% on the Zurich Stock Exchange just before midday.
Copyright (c) 2020 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.
In comments released in the morning, the Parisian broker mentions a "small step" for Roche, but "a giant leap for humanity," as this decision will drastically change screening capabilities on a global scale.
Roche believes that its production capacity could be pushed to the maximum and reach several million tests per month.
It is, however, difficult to assess at this stage the financial impact of the availability of these new tests on the Swiss group, Oddo argues, which nevertheless recalls that a Covid-19 test is billed around a fifty euros in Europe and around one hundred dollars in the United States.
In view of these elements, Oddo BHF makes Roche its "preferred" value in the current context of the coronavirus pandemic.
The Roche share is up over 8% on the Zurich Stock Exchange just before midday.
Copyright (c) 2020 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.