Sanofi: Barclays raises target price
(CercleFinance.com) - Barclays confirms its "underweight" rating on Sanofi, although has nudged up its target price for the share from 75 euros to 80 euros, reflecting increases in EBITA forecasts "reflecting the M/HSD EBITA upgrades over 2020-21" over 2020-21.
"Sanofi's recent CMD... fairly emphatically refuted one of the four key components of our recent downgrade, namely our margin pessimism," the broker says in its comments.
"This received its due recognition from the market last week, but we believe in itself is of lesser import, ranking third in fundamental importance on the list of four," it says, however.
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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.
"Sanofi's recent CMD... fairly emphatically refuted one of the four key components of our recent downgrade, namely our margin pessimism," the broker says in its comments.
"This received its due recognition from the market last week, but we believe in itself is of lesser import, ranking third in fundamental importance on the list of four," it says, however.
Copyright (c) 2019 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.