Une guidance 2016 ambitieuse - NEUTRE - OC 80€
La société publie ce matin ses résultats annuels qui se révèlent supérieurs aux attentes. Les ventes restent principalement conduites par CVN, mais aussi par un effet change extrêmement positif (+8% sur les ventes nettes). A noter la bonne performance de Keppra qui a bénéficié « d’une pénurie d’approvisionnement » aux Etats Unis. Avec des ratios SG&A et R&D en hausse de respectivement +9% et +6%, le BNA 2015 ressort à 2,17€, soit +4% au-dessus des attentes. UCB profite également de sa publication pour donner une guidance 2016 à savoir des revenus compris entre 4 et 4,1Mds€, un EBITDA entre 970 et 1010m€ et un Core EPS entre 2,90-3,20€ ce qui se révèlent bien au-dessus des attentes. Nous maintenons notre recommandation à NEUTRE sur la valeur avec un objectif de cours de 80€ en attendant la conférence call prévue ce jour à 14h (CET).UCB is a global biopharmaceutical company focused on severe diseases in two therapeutic areas, namely central nervous system disorders and immunology. In the area of central nervous system disorders, Co. is focused on advanced Parkinson's disease, epilepsy, restless legs syndrome and epilepsy. In the area of immunology disorders, Co. is focused on rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis, systemic lupus erythematosus, juvenile idiopathic arthritis, post-menopausal osteoporosis, systemic lupus erythematosus and immunological diseases.
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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