Sanofi: Jefferies still a buyer

(CercleFinance.com) - The broker confirms its Buy recommendation on the stock, along with its target price of E115 after the publication of Q3 figures.


Following performance in Q1, the broker is raising its sales guidance by +1%-2%, with EPS +3%-4%, with guidance to be raised in Q2 from a modest decline to potential growth, analysts believe, based on more accurate Beyfortus supply and the approval of Dupixent in the US for chronic obstructive pulmonary disease, it says.

It believes that the quality of the immunological pipeline remains underestimated, with numerous phase II trials this year to gradually build confidence, although the conclusion of phase III trials for tolebrutinib in Q3 seems uncertain, although this probably remains favourable for the share's risk/reward ratio: +3%-5%, vs. -2%-3% previously.


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