Fresenius Medcare: Jefferies downgrades stock

(CercleFinance.com) - Jefferies has downgraded its rating on the Fresenius Medical Care stock to "underperform," having reduced its corresponding target price from 68 euros to 60 euros, perceiving increasing headwinds which, in its opinion, "market is overlooking and mispricing".


"We believe the market is being complacent around potential lower volume growth, higher operating costs in 2021, and adverse FX," the broker says.

Jefferies says it expects 2021 EPS that is 8% below the consensus. "We also see potential future competition in Homecare," it adds in its comments about the German dialysis specialist.


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