Sanofi: stock falls with Liberum downgrade
(CercleFinance.com) - The Sanofi share is the biggest faller in the CAC 40 this Wednesday, suffering from a downgrade by Liberum.
At about 10 am, the biopharmaceutical group's share is down over 1.3% at just over 90 euros, while the CAC 40 is keeping afloat, up about 0.4%.
In a report about the health sector in Europe, Liberum explains that has downgraded the Sanofi share to "hold," against a previous buy rating, even though it has raised its corresponding target price from 90 euros to 99 euros.
This deterioration takes into account the share's sold performance last year, having risen by almost 24%, the broker explains.
After forming a new management team and the launch of a multi-year strategic plan aimed at offering new "differentiated" products, the share has risen a lot and is now at valuation levels that the British broker deems "appropriate".
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