Sanofi: Oddo still a buyer, but cuts target price
(CercleFinance.com) - Following the publication of solid quarterly results, Sanofi has raised its full-year earnings guidance from +6%/7% to +7%/8% at constant exchange rates.
However, Oddo notes that FX factors have offset this growth. The analyst has adjusted its model and expects EPS growth of around 8% over 2019/2023, compared to 8.2% for the sector.
Given this, Oddo remains a buyer, although has cut its target price for the share from 107 euros to 103 euros (residual upside potential of 33%).
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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.
However, Oddo notes that FX factors have offset this growth. The analyst has adjusted its model and expects EPS growth of around 8% over 2019/2023, compared to 8.2% for the sector.
Given this, Oddo remains a buyer, although has cut its target price for the share from 107 euros to 103 euros (residual upside potential of 33%).
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.