bioMérieux: Berenberg downgrades stock
(CercleFinance.com) - Berenberg has downgraded its rating on the bioMérieux share from "hold" to "sell," having raises target price from 120 euros to 110 euros, considering the stock to be its worst pick in its report on the medical services and technology sector.
"COVID-19 has dominated the investment narrative for the European diagnostics sector over the past 12 months, with most companies posting record sales and profits", the broker says.
"The biggest question is what the post-COVID-19 landscape will look like", Berenberg continues, which maintains Qiagen as its top pick in the sector, while maintaining its "buy" ratings on the IP Group and Biocartis shares.
The market seems to agree - the share is down nearly 2.5% in late morning trading on Friday.
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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.
"COVID-19 has dominated the investment narrative for the European diagnostics sector over the past 12 months, with most companies posting record sales and profits", the broker says.
"The biggest question is what the post-COVID-19 landscape will look like", Berenberg continues, which maintains Qiagen as its top pick in the sector, while maintaining its "buy" ratings on the IP Group and Biocartis shares.
The market seems to agree - the share is down nearly 2.5% in late morning trading on Friday.
Copyright (c) 2021 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.