Almirall: shares jump over 4% after broker upgrade.
(CercleFinance.com) - Shares in Spanish drugs company Almirall are up 4.
6% on Wednesday after Credit Suisse upgraded its recommendation on the shares, saying the risk/reward outlook now seems to be "more balanced."
The broker upgraded Almirall from "underperform" to "neutral," while trimming its target price from 10 euros to 9 euros.
Credit Suisse said in a note sent to clients that it has upgraded its recommendation on the shares to reflect a valuation that is "normalising," with the stock trading at a 30% discount relative to peers following the group's recent profit warning.
This morning Almirall shares were up 4.6% at 8.73 euros, while the broader Spanish market was up 0.5%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
6% on Wednesday after Credit Suisse upgraded its recommendation on the shares, saying the risk/reward outlook now seems to be "more balanced."
The broker upgraded Almirall from "underperform" to "neutral," while trimming its target price from 10 euros to 9 euros.
Credit Suisse said in a note sent to clients that it has upgraded its recommendation on the shares to reflect a valuation that is "normalising," with the stock trading at a 30% discount relative to peers following the group's recent profit warning.
This morning Almirall shares were up 4.6% at 8.73 euros, while the broader Spanish market was up 0.5%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.