Publication robuste mais attendue - VENTE - OC 149€ (vs 143€)
La publication des ventes T2 17 est ressortie en ligne avec nos attentes. La division Diagnostic Moléculaire continue de tirer la croissance (+40% lfl), générant plus de 50% de la croissance lfl du groupe. Comme attendu après le T1 17 (+13,7% lfl), BIM a légèrement relevé sa guidance de CA au haut de fourchette (environ +9% lfl). Cette guidance nous paraît prudente, impliquant une croissance lfl au S2 de +6,9%. L’impact change sera moindre sur l’EBITA au S1 mais probablement plus important au S2 compte tenu de la montée de l’€. Nous conservons nos estimations mais relevons à 149€ notre OC suite à la mise à jour du modèle, notamment de la valorisation Comparables (154€ vs 143€ préc.).Co. specializes in the field of in vitro diagnostics for clinical and industrial applications. Co. designs, develops, manufactures and markets systems used in: Clinical Applications (the diagnosis of infectious diseases such as hepatitis, HIV, tuberculosis and respiratory illnesses, as well as pathologies such as cardiovascular diseases and cancers, based on the analysis of biological samples such as blood, saliva or urine); and Industrial Applications (microbiological analysis of samples of finished or semi-finished products (or of the environment), chiefly in the food processing and biopharmaceutical industries), detecting microorganisms in agri-food, pharmaceutical and cosmetic products.
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.
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