(News Bulletin 247) – Invest Securities reiterates its ‘buy’ opinion on Grifols while adjusting its price target from 20 to 19 euros, adopting a more cautious stance by lowering its estimates to the middle of the range of globally disappointing 2023 targets.
‘While sales growth is robust, the market was heavily penalized yesterday (-9%) for lagging margins and timid 2023 targets’, points out the analyst, considering however that ‘the inflection on the margin and the debt should take place in 2023’.
“The decline since the departure of Steve Mayer on February 21 for medical reasons and following the publication of mixed 2022 results (-20%) constitutes an interesting entry point to position oneself in the medium term”, he judges in besides.
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