Sartorius Stedim Biotech: Oddo maintains neutral rating.

(CercleFinance.com) - Oddo confirmed its "neutral" rating on Sartorius Stedim Biotech, with a target price of 63 euros, after the group reported a 9.
4% increase in Q1 sales to 268.8 million euros.

Meanwhile, the group's order backog is up 9% like-for-like at 302 million euros, with EBITDA reaching 71.9 million euros, or 26.7% of sales.

Finally, the group's bottom line has increased by 4.6 million euros over one year to 44 million euros, with it maintaining its guidance.

Although figures are more or less in line with our estimates, "Europe and the US are slowing down slightly - a little more than expected," the broker said, while Asia is clearly benefiting from solid equipment sales.


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