Sanofi: Credit Suisse cuts target price
(CercleFinance.com) - On Thursday Credit Suisse reduced its target price for Sanofi shares from 110 euros to 106 euros, while renewing its "outperform" rating on the French pharmaceutical group's stock.
In its morning comments, the broker highlights a limited risk linked to the emergence of generics and factors that will benefit its margins, starting with Dupixent, although it also mentions reduced potential in terms of renewing its drug portfolio.
Regarding the recent failure of amcenestrant (breast cancer) and the delay of tolebrutinib (multiple sclerosis) in clinical trials, Credit Suisse believes that these setbacks have been completely overshadowed by the promise of efa (haemophilia).
The broker says that the share's underperformance is therefore due to the Zantac case, which should weigh on the share price for a few more years, pending the judicial resolution of the case.
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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.
In its morning comments, the broker highlights a limited risk linked to the emergence of generics and factors that will benefit its margins, starting with Dupixent, although it also mentions reduced potential in terms of renewing its drug portfolio.
Regarding the recent failure of amcenestrant (breast cancer) and the delay of tolebrutinib (multiple sclerosis) in clinical trials, Credit Suisse believes that these setbacks have been completely overshadowed by the promise of efa (haemophilia).
The broker says that the share's underperformance is therefore due to the Zantac case, which should weigh on the share price for a few more years, pending the judicial resolution of the case.
Copyright (c) 2022 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.