Recordati: Oddo BHF still a buyer

(CercleFinance.com) - An Oddo BHF analyst said that he is maintaining his "Buy" rating on the Recordati stock, a few days after it was learned that CVC would buy 51.
8% of the company's capital.

The news fell on Friday night that the CVC fund and the Recordati family have reached an agreement: CVC (actually a consortium of funds controlled by CVC Capital Partners) will buy all of Fimei's shares for about 3 billion euros," Oddo BHF said.

The first comments of CVC mention the development of the group's rare diseases franchise (currently 15%-16% of sales and over 23% EBIT), which could be a good growth story to play in our opinion, the broker commented, which maintained its target price of 40 euros for the share.


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.