Fresenius: shares fall after broker downgrade.

(CercleFinance.com) - Shares in German healthcare group Fresenius are down over 4% after analysts at UBS downgraded the stock from "neutral" to "sell," citing pricing pressure from generics reaching its transfusion unit Kabi.


"The number of drugs approved to compete with Kabi has more than tripled in two years. We expect elevated pricing pressure as soon as first half of 2018," the analysts write in a research note.

They have also cut their target price for the share from 74 euros to 57 euros.

Currently down 4.4% at 64 euros, Fresenius shares are the biggest loser in the German blue-chip index DAX today and are significantly underperforming the STOXX Europe 600 Optimised Health Care index, which is down just slightly.

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