Résultats d’Evofosfamide en ligne de mire - ACHAT - OC 115€ (vs 117€)
Suite à la publication du T2, nous modifions nos estimations sur deux points : (i) nous augmentons les coûts de R&D de la franchise HealthCare sur la période 2015-2018 et (ii) nous décalons l’intégration de Sigma Aldrich au T4 15 vs août 2015 précédemment. Ces deux ajustements nous conduisent à abaisser notre objectif de cours de 117€ à 115€. Nous maintenons cependant notre recommandation à ACHAT sur la valeur avec en ligne de mire les résultats de phase III d’evofosfamide en fin d’année.Merck is a global science and technology company based in Germany. Co. diversifies its activities into four business divisions: Merck Serono, Consumer Health, Performance Materials and Merck Millipore. The Merck Serono develops, manufactures and markets prescription drugs to treat cancer, multiple sclerosis, infertility, growth disorders, and selected cardiovascular and metabolic diseases. The Consumer Health manufactures and markets over-the-counter drugs addressing health themes such as mobility, women's and children's health, cough and cold. Performance Materials is a specialty chemicals business. The Merck Millipore is the supplier of products and services for the life science industry.
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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