Grifols: Berenberg trims target price, keeps 'buy' rating

(CercleFinance.com) - Berenberg cut its target price for the shares of Spanish pharmaceutical group Grifols on Wednesday, while reiterating its "buy" recommendation.


"Heavy investment in recent years has left Grifols well positioned to outgrow the plasma products market, improve revenue-per-litre dynamics and keep cost growth in check," the German broker wrote.

"We do not think either share reflects the growth potential of the business," it added.

Berenberg said it cut its target for Grifols "A" shares from 35 euros to 34 euros, and has lowered its target for its "B" shares from 26.2 euros to 25.45 euros.

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