Dans une bonne dynamique - ACHAT vs NEUTRE - OC 147€ (vs 133€)
La société a publié hier ses résultats trimestriels qui se sont avérés meilleurs qu’attendus. Bien que l’impact positif des devises reste indéniable que ce soit au niveau des ventes ou de la marge, les fondamentaux restent solides. Nous profitons ainsi de cette publication pour ajuster nos estimations. Nous sommes aujourd’hui en ligne avec la guidance 2015, c’est-à -dire un CA de 47,3Mds€ et un BNA core en croissance de +16%. Nous augmentons cependant notre croissance long terme de la société, +2% vs +1,5%, afin d’intégrer au mieux la dynamique clinique de ces 12 prochains mois. Après une pause sur notre recommandation (+2,8% depuis notre neutralisation), notre objectif de cours ressort à 147€ (vs 133€) par action, ce qui nous conduit à relever notre recommandation de NEUTRE à ACHAT.Bayer is a life sciences group based in Germany. Co.'s operations are organized along three divisions: Pharmaceuticals (engaged in prescription pharmaceuticals for cardiology and women's healthcare); Consumer Health (engaged in non-prescription products in dermatology, dietary supplement, analgesic, gastrointestinal, allergy, cold and flu, foot care, sun protection and cardiovascular risk prevention categories); and CropScience (engaged in the development of seeds and plant traits; crop protection; and for gardens, the green industry and non-agricultural pest control). Co. also maintains an Animal Health business unit engaged in the development of products for farm and companion animals.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.