Report
Pedro Echeguren

Reig Jofre: A sound 9M19 but TP cut on concerns about Bioibérica

Reig Jofre: A sound 9M19 but TP cut on concerns about Bioibérica

  • Growth in sales and adjusted EBITDA accelerated in 9M19 after a strong 3Q19
  • Bioibérica: Medicaments to treat arthrosis may no longer be subsidized in Spain
  • Valuation: Our target price is cut to €3.80/share (from €3.92/share)
Underlying
Laboratorio Reig Jofre SA

Laboratorio Reig Jofre is engaged in the research and development of active principles and natural functional ingredients for the manufacture of natural compounds used in functional foods, cosmetics and pharmaceutical products. In its research and development activities, Co. offers product concept (incorporating a functional ingredient), product design, development process, clinical tests, nutritional and/or nutraceutic marketing, financial advising and assistance for subsidies application. Products include natural caffeine, cocoa and chocolate aroma, guarana extract, kola nut extract, olive powder, cocoa extract, and naringin, kava-kava extract, citrus bioflavonoids, and cocoa butter.

Provider
Bankinter S.A.
Bankinter S.A.

Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.

Analysts
Pedro Echeguren

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