(News Bulletin 247) – Invest Securities reiterates its ‘buy’ opinion on Grifols with a price target raised from 16 to 20 euros, after integrating a ‘cost reduction plan of historic scope and highly accretive on margins from 2024’ for the Spanish health group.
‘It is part of the pragmatic strategy driven by Steve Mayer to quickly put in place a more efficient organization’, notes the analyst, who also points to his ambition to quickly get out of debt with several assessed alternatives.
The design office therefore remains on the buy side ‘with its sights set on an upcoming and probable operation aimed at permanently reducing the group’s debt, allowing the market to refocus on the robust outlook for the plasma market’.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
