(News Bulletin 247) – Oddo BHF which goes from ‘neutral’ to ‘outperforming’ on bioMérieux and brings it into its ‘european midcap list’, with a price target maintained at 105 euros, given the share’s recent decline that the visibility seems good to him.
‘bioMérieux should benefit from several growth opportunities in the short and medium term’, believes the analyst, who cites in particular its new lowplex diagnostic systems, SpotFire, launched last March in the United States.
Once the hypothesis of a slowdown in sales of respiratory panels has been retained, Oddo BHF believes that consolidated sales should grow by +4% to +6%, at constant currencies and scope (i.e. 8-10% excluding respiratory panels linked to Covid) in 2023.
“The stock is trading at 16x 12-month EBIT, below its 10-year average of 19x, despite an industry position that has never looked so favourable.” highlighting, among other things, higher margins than before the Covid.
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