bioMérieux: Oddo BHF raises target price
(CercleFinance.com) - While maintaining its "neutral" rating on the bioMérieux share, Oddo BHF has raised its target price from 120 euros to 124 euros, after it adjusted its forecasts for the in-vitro diagnostic specialist.
According to the broker, COVID momentum and dynamics will remain strong in molecular biology (38% of sales/+70% in H1 2020), until mid-2021, noting that demand is described as "very strong" for COVID tests.
We would say that around 125/130 euros, we believe that the share seems to fairly priced to value the "COVID play" - at the same time regarding relative and historical multiples - what might be called the risk of a bursting of the COVID bubble in 2021, the analyst judges.
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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.
According to the broker, COVID momentum and dynamics will remain strong in molecular biology (38% of sales/+70% in H1 2020), until mid-2021, noting that demand is described as "very strong" for COVID tests.
We would say that around 125/130 euros, we believe that the share seems to fairly priced to value the "COVID play" - at the same time regarding relative and historical multiples - what might be called the risk of a bursting of the COVID bubble in 2021, the analyst judges.
Copyright (c) 2020 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.