Biomérieux: with guidance too cautious, Invest now a buyer
(CercleFinance.com) - Biomérieux's growth in the third quarter came in well above Invest Securities' expectations, in particular thanks to the performance of its molecular biology business.
This performance has therefore led the broker to raise its estimates for Q4 2020 and H1 2021 for molecular biology. However, it has reduced expectations for microbiology, due to tighter barrier gestures.
Furthermore, the analysis says that Biomérieux's 2020 targets appear extremely cautious. Indeed, the broker expects a 20.5% increase in sales, while Biomérieux has forecast +16%, with an EBITDA of 540 million euros (vs. above 520 million euros for Biomérieux).
In this context, Invest Securities has upgraded its rating on the share from neutral to buy, while shaving one euro off its target price from 147 euros to 146 euros.
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