UCB: Oddo remains positive, adjusts target

(CercleFinance.com) - Oddo BHF maintains its outperform opinion on UCB, even though it is expecting another five complicated months before the expected approval of Bimzelx, albeit adjusting its target price from 100 to 98 euros.


Although it considers that the consensus should adjust before the publication of the 2023 guidance planned for 22 February, the analyst firm remains convinced of the ability of the Belgian pharmaceutical group to achieve its mid-term sales objectives.

It goes on to state that 2022 and 2023 will be the company's low point before returning to strong growth, led in particular by Bimzelx, Roza and Zilucoplan, modelling an average annual rate of change of the 2022/26 EPS of +23% for the period.

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