Affiche sa confiance sur le S2 après un CA S1 mitigé - ACHAT, OC 2,3€ vs 2,4€
Le CA S1 publié mercredi soir s’est révélé mitigé, impacté par une contre-performance de l’activité Lab21 (hématologie/microbiologie). Suite à un contact avec la société, le CFO s’est voulu rassurant sur les perspectives du S2 pour Lab21 et confiant sur l’intégration de PrimerDesign (consolidé 2 mois sur le S1). Hors impact des changes, ces éléments nous conduisent à maintenir nos estimations inchangées, même si nos attentes pour 2016 ressortent plus « challenging ». La prise en compte de la dépréciation de la livre face à l’euro amène toutefois à réduire nos attentes 2016-19e de -3% à -5% pour le CA et de -5 à -6% pour l’EBITDA. Nous maintenons notre recommandation à ACHAT en ajustant notre objectif de cours de 2,4€ à 2,3€Novacyt is an international diagnostics group. Co. sales clinical products used in oncology, microbiology, haematology and serology testing, focusing on the development, manufacture and commercialisation of molecular, protein and whole-cell diagnostic products. Co. also develops new products for the infectious disease and oncology testing markets. Co. operates it business through three divisions that are principally based in the United Kingdom with additional operations in France, China, Australia and the United States: Primerdesign, NOVAprep® and Lab21.
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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