Une nouvelle guidance prudente sur le Diabète - ACHAT - OC 104€ (vs 107€)
La publication des résultats trimestriels a été placée au second plan après l’annonce de la nouvelle guidance des ventes de la franchise Diabète. Initialement anticipée entre stable à faible croissance, SANOFI prévoit dorénavant une décroissance comprise entre -4 et -8%. Deux points expliquent cet impact: i) une pression sur le marché de l’insuline glargine aux US et un renouveau de portefeuille qui tarde à délivrer. Cet environnement de marché de plus en plus compliqué nous conduit à abaisser nos estimations de -2,2% en moyenne en topline et -4% en moyenne en bottom line. Bien que notre objectif de cours soit abaissé à 104€ (vs 107€), avec +14% de potentiel nous maintenons notre recommandation à ACHAT. Prochain évènement: « Meet to the Management » le 6 novembre prochain.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.
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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