(Reuters) – Euroapi fell again on Tuesday on the Paris Stock Exchange, after Deutsche Bank lowered its recommendation to “sell” from “hold”, the intermediary regretting the lack of details on the update of the group’s strategy last week.
On the Paris Stock Exchange, around 09:38 GMT, the action of the manufacturer of active pharmaceutical ingredients fell by 8.2%, after having plunged by around 12% during the first exchanges.
Last week, when publishing its annual results, Euroapi said it was targeting an Ebitda margin of between 6% and 9% for 2024, or 38% below the company’s consensus. The company also anticipated a decrease in its turnover for 2024 of between 4% and 7% on a comparable basis.
These forecasts caused Euroapi shares to fall by 43.3% on Thursday alone.
Deutsche Bank says it was “disappointed” by the lack of quantitative details on the FOCUS-27 project.
“Further details on cost savings targets, financing and potentially new mid-term targets are expected to be shared during the second quarter, but are unlikely to generate enthusiasm, in our view “, indicates the intermediary.
“Operational visibility remains low, and restructuring expenses and investment needs could result in additional cash requirements,” adds Deutsche Bank.
(Written by Lina Golovnya, edited by Blandine Hénault)
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