Boiron: stock jumps on broker comments
(CercleFinance.com) - Oddo has upgraded its recommendation on Boiron shares from "neutral" to "outperform", raising its corresponding target price to 47 euros (vs.
The biotech group, which is specialised in homeopathy, posted Q4 sales of 147.5 million euros, up 2.9%, although still slightly below expectations (155.5 million euros).
Boiron reported FY sales of 455.2 million euros, down 10.6% on 2020 and 2% below expectations (463 million euros).
However, the broker said that it is raising its estimates, given the lesser effect of delisting, the good margin levels in 2021, and the savings expected from the reorganisation plan.
Oddo also believes that the acquisition of a 70% stake in ABBI, a start-up specialising in individualised cosmetics, is "interesting" and "gives an expected signal in terms of M&A".
Whatever the metrics, the share is up over 10% at over 40 euros in Paris today.
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