Sartorius: Commerzbank downgrades 'buy' rating.
(CercleFinance.com) - Commerzbank has downgraded its “buy” rating on the German medical group Sartorius to “hold”.
Analysts have also cut their target price for the share to 87 euros.
Analysts have justified their more cautious stance towards the stock by insisting on the Bioprocess Solutions division, over which they now have a more cautious view, with its momentum set to subside this year. Therefore, Commerzbank has reduced its earnings estimates by 3%, with analysts now thinking that Sartorious is more unlikely to exceed its own estimates. Their research paper reads, “A positive surprise from Bioprocess Solutions becomes unlikely”.
The brokers also underline the stock's recent strong performance, having risen by 25% since last March.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Analysts have also cut their target price for the share to 87 euros.
Analysts have justified their more cautious stance towards the stock by insisting on the Bioprocess Solutions division, over which they now have a more cautious view, with its momentum set to subside this year. Therefore, Commerzbank has reduced its earnings estimates by 3%, with analysts now thinking that Sartorious is more unlikely to exceed its own estimates. Their research paper reads, “A positive surprise from Bioprocess Solutions becomes unlikely”.
The brokers also underline the stock's recent strong performance, having risen by 25% since last March.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.