Fresenius: Bryan Garnier still a buyer; trims target price

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" recommendation on the Fresenius, which it is keeping in its "top pick list" for the third quarter, although has cut its fair value from 89 euros to 83 euros to reflect the withdrawal of Akorn from its estimates.


Prior to the Q2 results, the broker points to the positive development of hydroxyethyl starch (HES) in Europe and the benefits related to the shortage of generic drugs at competitors.

According to Bryan Garnier, this could boost Kabi's growth targets by 100 bp for revenues and by about 300 bp for operating profit. Additional details on Helios reinforce the broker's positive view of the business, it continues.



Copyright (c) 2018 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.