BioMérieux: Oddo adjusts target price

(CercleFinance.com) - This morning BioMérieux published 2017 turnover of 2,288 million euros, up 10.
2% like-for-like, slightly exceeding the group's target of between 9% and 10%, with published growth of 8.8%.

Following this publication, Oddo confirmed its Neutral rating on the stock, although raised its target price to 70 euros (against 65 euros).
Oddo pointed out that the group's fourth quarter is fairly satisfactory, considering that its comparison basis was fairly high at +9.2% in Q4 16.

The broker stated that in the meantime, the company indicated that its FY underlying operating profit is expected to reach between 330 million and 345 million euros: its own analysts expect 340 million euros (vs. consensus of 333 million euros). As such, Oddo is not changing its forecasts.


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