bioMérieux: Stifel upgrades stock

(CercleFinance.com) - Stifel has upgraded its rating on bioMérieux shares to "buy", while trimming its target price for them from 113 euros to 105 euros after reducing its earnings estimates, with the growth driver of the Covid-19 pandemic set to tail off somewhat.


"However, given the longer-term positive characteristics of the investment case, we see current share price levels as overly discounting this short-term impact, providing an attractive entry point for longer-term investors", the broker says.

Following the correction in the share price since the beginning of vaccine hopes, the broker now considers that the shar is trading at more reasonable multiples and, despite near-term headwinds, that the risk/reward looks skewed to the upside.

The share is currently up almost 2% in Paris.


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