Grifols: Berenberg raises target price
(CercleFinance.com) - Berenberg raised its target price for Spanish healthcare company Grifols to 29.
70 euros from 26.30 euros, as the German broker expects "comforting" second-quarter results on 31 July.
"We expect strong sales growth for Grifols in the second quarter in biosciences and broadly stable underlying EBITDA margins to further improve sentiment despite the recent re-rating," it said, maintaining a "hold" rating on the shares.
By 15:30, Grifols shares fell 0.5% at 28.9 euros.
In a note, Berenberg says its preference remains for the non-voting B shares of Grifols, which offer "exceptional value." The broker has a "buy" rating on the B shares, and raised its target price to 25.25 euros from 22.35 euros.
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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.
70 euros from 26.30 euros, as the German broker expects "comforting" second-quarter results on 31 July.
"We expect strong sales growth for Grifols in the second quarter in biosciences and broadly stable underlying EBITDA margins to further improve sentiment despite the recent re-rating," it said, maintaining a "hold" rating on the shares.
By 15:30, Grifols shares fell 0.5% at 28.9 euros.
In a note, Berenberg says its preference remains for the non-voting B shares of Grifols, which offer "exceptional value." The broker has a "buy" rating on the B shares, and raised its target price to 25.25 euros from 22.35 euros.
Copyright (c) 2019 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.