Sanofi: AlphaValue cuts target price

(CercleFinance.com) - On Tuesday AlphaValue reduced its target price for Sanofi shares from 111 euros to 102 euros to take into account the threat posed by the Zantac case.


The broker, which maintains a "hold" rating on the stock, said that it has adjusted its valuation following the market's negative reaction to the prospect of a trial in the US over its heartburn drug by the end of the month.

In its comments, AlphaValue said that it is now applying a 30% discount to its previous relative valuation for the stock.

The independent broker nevertheless says it maintains a favourable view of the pharmaceutical company because of the "transformation" it has begun, a transition it believes has been facilitated by the success of Dupixent and the vaccines business.



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