bioMérieux: Portzamparc downgrades stock
(CercleFinance.com) - The broker Portzamparc is now less aggressive on the share of pharma group bioMérieux, which has risen over 25% year-to-date.
As such, the broker has downgraded its reinforce rating to hold, having maintained its target price at 73 euros, which matches the share's current price.
A research note points out that the group's 2018 results exceeded expectations. In Q4, as for the full-year, the group's momentum is driven by sales in North America (+18.2% year-on-year) and in the Asia-Pacific region (+7.7%), which benefit from accelerating growth in industrial applications and the BIOFIRE range, Portzamparc says, which also hails honorable growth in Europe.
In addition, bioMérieux is optimistic for 2019, aiming for 7% to 8.5% sales growth, with, a priori less penalising FX factors. Growth should continue to be driven by increased international exposure outside the US, the strong momentum of the BIOFIRE range and increased sales of industrial applications. In addition, the group is expected to further strengthen its footprint in the Asia-Pacific region, its note says. However, Portzamparc also considers that risk/return is balanced now as a whole.
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.
As such, the broker has downgraded its reinforce rating to hold, having maintained its target price at 73 euros, which matches the share's current price.
A research note points out that the group's 2018 results exceeded expectations. In Q4, as for the full-year, the group's momentum is driven by sales in North America (+18.2% year-on-year) and in the Asia-Pacific region (+7.7%), which benefit from accelerating growth in industrial applications and the BIOFIRE range, Portzamparc says, which also hails honorable growth in Europe.
In addition, bioMérieux is optimistic for 2019, aiming for 7% to 8.5% sales growth, with, a priori less penalising FX factors. Growth should continue to be driven by increased international exposure outside the US, the strong momentum of the BIOFIRE range and increased sales of industrial applications. In addition, the group is expected to further strengthen its footprint in the Asia-Pacific region, its note says. However, Portzamparc also considers that risk/return is balanced now as a whole.
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.