Sanofi: Credit Suisse raises target price.
(CercleFinance.com) - Credit Suisse has confirmed its "outperform" rating on Sanofi, raising its target price from 85 euros to 95 euros, seeing the share as the most attractive amongst major pharmaceutical stocks in the European Union.
The broker's analysts highlight an EV/NPV - its favourite measure - of 0.84x, suggesting discounts of 16% relative to its European peers and 19% relative to its global peers.
Credit Suisse justifies increasing its target price by market movements, a continued vigorous launch of Dupixent in the US and evidence of only limited erosion of the Lantus/Toujeo franchise (which together account for 17% of Sanofi's NPV).
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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.
The broker's analysts highlight an EV/NPV - its favourite measure - of 0.84x, suggesting discounts of 16% relative to its European peers and 19% relative to its global peers.
Credit Suisse justifies increasing its target price by market movements, a continued vigorous launch of Dupixent in the US and evidence of only limited erosion of the Lantus/Toujeo franchise (which together account for 17% of Sanofi's NPV).
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.