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bioMerieux: Oddo BHF upgrades share

(CercleFinance.com) - Oddo BHF has upgraded its rating on the bioMérieux share from "neutral" to "buy" and has raised its target price from 75 euros to 96 euros, after factoring in a more optimistic scenario regarding its outlook for the in vitro diagnostics specialist.

The analyst says that the share is included in its best pick (Convictions) Midcaps list for the first half of 2020, who has raised forecasts for sales and earnings by around 2%. bioMérieux could, he says, provide a 2020 sales growth outlook of +7% to +9%, compared to +7% in 2019.

He believes that the share's momentum should improve and that BioFire has sustainable potential. He appreciates its defensive qualities (more than 80% of income is recurrent), while the group has a solid financial situation, coupled with exposure to the United States (37% of 9m sales).

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