(News Bulletin 247) – Invest Securities reiterates its ‘buy’ opinion on Grifols with an adjusted price target of 19 to 18 euros, the day after a quarterly publication which saw the market reward ‘the rebound in margins with the crossing of ‘an inflection point’.
“This rebound is based on the effective execution of the cost savings plan while the drop in plasma collection prices that began in August will start to have a positive impact on the margin from the second half of the year”, specifies the analyst in charge of the health group.
Invest Securities adds that management has reiterated its debt reduction objective through the generation of FCF and the completion of an operation in 2023. “After trying quarters, Grifols looks to the future positively,” he notes.
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