Sanofi: stock rises on broker upgrade
(CercleFinance.com) - The Sanofi stock is one of the biggest risers on the CAC 40 on Monday (cp: E99, +2%), following upbeat comments from Barclays, which has upgraded the stock.
In a report on the European pharmaceutical sector, the analyst said he has upgraded the French laboratory to "overweight", following the "impressive" clinical results unveiled last week for Dupixent in COPD.
The broker has also raised its target price for the stock from E90 to E115.
Barclays now expects annual sales of E22bn for Dupixent by 2030, up from E16.5bn expected previously.
Analysts say that this development highlights the value of Sanofi shares, i.e. their low value compared to other stocks such as GSK or Novartis.
Copyright (c) 2023 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.
In a report on the European pharmaceutical sector, the analyst said he has upgraded the French laboratory to "overweight", following the "impressive" clinical results unveiled last week for Dupixent in COPD.
The broker has also raised its target price for the stock from E90 to E115.
Barclays now expects annual sales of E22bn for Dupixent by 2030, up from E16.5bn expected previously.
Analysts say that this development highlights the value of Sanofi shares, i.e. their low value compared to other stocks such as GSK or Novartis.
Copyright (c) 2023 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.