BioMérieux: RBC initiates 'outperform' coverage

(CercleFinance.com) - RBC announced Wednesday evening that it had initiated coverage of bioMérieux shares with an 'outperform' rating and a price target of 130 euros, representing a potential upside of over 30%.


"In view of its strong market positioning and impressive track record in terms of execution, we believe that the stock's current discount to other IVD specialists is unjustified", explains the Canadian broker.

RBC believes that the Lyon-based group is in a position to continue to increase its market share in the microbiological analysis segment, which currently stands at almost 40% in a sector estimated at three billion euros, thanks in particular to the launch of new devices.

The broker thus expects average annual sales growth above the 8% forecast at constant exchange rates provided by the company for the 2024-2028 period, as well as an operating margin of 20% by 2027, in line with the company's target.

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