Sartorius Stedim Biotech: buoyed by broker comments

(CercleFinance.com) - Sartorius Stedim Biotech shares were one of the biggest gainers on the SBF 120 index on Tuesday morning in Paris, as the specialist in equipment for the biopharmaceutical industry benefited from RBC comments, which initiated its coverage of the stock with a buy rating.


At around 9:30 a.m., the stock was up 1.9%, compared with a gain of around 0.2% for the SBF 120 and a decline of 0.1% for the STOXX index of the European healthcare sector.

In a note, RBC stresses that the underperformance of the stock is at odds with the recovery of the company's fundamentals.

Sartorius Stedim Biotech's market shares held up well during the Covid period and have since recovered, in line with those of its peers, the Canadian broker comments.

And yet, its share price has significantly underperformed those of its peers, due to downward revisions of its targets, which represents an opportunity for investors, RBC judges.

The professional, which has a E270 TP for the stock, believes that the company benefits from a "solid positioning" in an "attractive" market, that of the supply of materials for the manufacture of biological products and advanced therapies, such as gene therapies.


Copyright (c) 2024 CercleFinance.com. All rights reserved.