Sanofi: Oddo upgrades to buy
(CercleFinance.com) - In a report released on Tuesday, Oddo has upgraded its rating on Sanofi from "neutral" to "buy," while raising its target price from 78 euros to 88 euros.
The broker has reacted to yesterday's announcement of an agreement to takeover Bioverativ for a price of 105 dollars per share, or 11.6 billion dollars, with a premium of 64% over the closing price on Friday evening.
The French pharmaceutical giant is finally making a major biotech deal, Oddo says, which points out that this transaction will enable Sanofi to strengthen one of its five franchises that have global leadership ambitions - in this case, the Sanofi Genzyme division.
Oddo now expects average EPS growth of 7.4% p.a. over the period 2017-2022, against a previous estimate of 6%.
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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 has reacted to yesterday's announcement of an agreement to takeover Bioverativ for a price of 105 dollars per share, or 11.6 billion dollars, with a premium of 64% over the closing price on Friday evening.
The French pharmaceutical giant is finally making a major biotech deal, Oddo says, which points out that this transaction will enable Sanofi to strengthen one of its five franchises that have global leadership ambitions - in this case, the Sanofi Genzyme division.
Oddo now expects average EPS growth of 7.4% p.a. over the period 2017-2022, against a previous estimate of 6%.
Copyright (c) 2018 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.