Fresenius SE: UBS upgrades stock on valuation grounds

(CercleFinance.com) - UBS has upgraded its recommendation on the shares of German healthcare group Fresenius from "sell" to "neutral," citing valuations grounds.


In a note to clients, the broker says the risk associated to its generic infusion drug unit Kabi is now "priced in."

"At 12x PE Fresenius valuation appears compelling, but we continue to see risk to consensus estimates from injectable drug prices in 2019," the broker says.

However, the broker has cut Its target price for the share from 51.5 euros to 46 euros.

Fresenius shares are currently up 2.2% at 43.6 euros.

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