Posted Jan 23, 2023, 3:44 PMUpdated on Jan 23, 2023 at 3:46 PM
Credit Suisse today began monitoring Sartorius Stedim with a “neutral” advice to, all the same, aim for a target of 360 euros, 15% higher than the current price. “We appreciate the long-term growth potential of bioprocessing markets [la production de molécules par voie biotechnologique] and laboratory products, but we believe that the valuation is in step with events following the significant rise in the share price since the beginning of the year”writes the analysis division of the bank.
The equipment manufacturer for the production of biological drugs, manufacturer of consumables for laboratories (Petri dishes or pipettes, for example) and seller of analysis machines rose on the stock market by just over 3% on Euronext Paris since the start of the year, but its parent company, Sartorius AG, has gained more than 11% in Frankfurt.
The group ” is a leading supplier of biomanufacturing equipment and consumables to the biopharmaceutical industry, thanks to its 74% stake in Sartorius Stedim. It is also a leading provider of laboratory bioanalytical instruments and services. “recalls Credit Suisse.
Sourstockage
“We see significant medium-term attractions for the bioprocessing industry, supported by strong growth in biopharmaceutical production volumes, increased use of single-use systems and the emergence of new therapeutic modalities. Our proprietary PharmaValues Bioprocess Opportunity Index supports volume growth of around 10% in the medium term. However, customer overstocking during the Covid pandemic must now subside, limiting estimated earnings per share growth for 2023 to low numbers,” believes the bank.
At 312 euros, the shares of Sartorius Stedim are far from their record of 551 euros reached during the session of September 10, 2021, during the health crisis. Their value had doubled in 2020.
