Guerbet - Faster-than-expected turnaround boosts share price potential
2023 results well above expectationsDeterioration in WCR weighing on debt levels, but expected to downAny doubts we may have had about 2024 targets have now been dispelled.We are raising our Buy rating to reflect the stronger-than-expected turnaround and the attractive valuation for 2025.Guerbet is a French pharmaceutical group that develops, markets, and provides maintenance services for medical equipment and devices destined for diagnostic and interventional imaging. Co.'s portfolio comprises media solutions covering MRI, X-rays and products devoted to International Radiology and Theranostics and medical devices. Co. organizes its operation by product family covering Magnetic Resonance Imaging (MRI), X-rays (XR) and Interventional Radiology and Theranostics (IRT). The MRI family includes Dotarem® and Artirem®; Co.'s X-ray product family includes Xenetix®, Optiray®/Optiject®, Oxilan®, and Telebrix®; and the IRT product family has Lipiodol®, Bleu Patente V and Hexabrix®.
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