Report
Martial Descoutures

Une franchise vaccins au rendez-vous - ACHAT - OC 91€

Le groupe français publie ses résultats du T2 2017 qui se révèlent de nouveau solides. La bonne performance de la franchise Médecine de Spé (+13,6%) et Vaccins (+19,2%) compense la pression attendue du Diabète et de la Santé grand public. Grace à un bon contrôle des coûts, Sanofi ajuste sa guidance en haut de sa précédente fourchette, c’està- dire un BNA 2017 attendu stable (vs 0% et -3% à tcc init.). Cependant, l’effet change devrait être dorénavant positif de +1% (vs +3 à +4% init). Peu de changements à attendre au niveau du consensus. Nous maintenons notre recommandation à ACHAT. Conférence téléphonique prévue à 14h00.
Underlying
Sanofi

Sanofi is an integrated, global healthcare company focused on patient needs and engaged in the research, development, manufacture and marketing of healthcare products. Two segments make up Co.'s business: Pharmaceuticals and Vaccines. The Pharmaceuticals segment covers research, development, production and marketing of medicines, consisting of flagship products, plus a broad range of prescription medicines, generic medicines, and consumer health products. The Vaccines segment includes research, development, production and marketing of vaccines in five areas: pediatric vaccines, influenza vaccines, adult and adolescent booster vaccines, meningitis vaccines, and travel and endemic vaccines.

Provider
Invest Securities
Invest Securities

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.

Analysts
Martial Descoutures

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