BioMérieux: the stock outperforms, Deutsche raises its target

(CercleFinance.com) - The bioMérieux share price was up on Monday morning on the Paris Bourse, boosted by a note from Deutsche Bank, which raised its target price for the laboratory as the seasonal flu season ramps up in the United States.


While noting that the flu season appeared later than expected, Deutsche Bank points out that it has been gaining momentum since December, which it believes should support the purchase of diagnostic tests, such as the French group's 'Biofire' system.

"Of all the diagnostics specialists we cover, we believe bioMérieux is the most likely to benefit from this trend", says the analyst.

The company is the most exposed to respiratory testing, which accounts for 23% of its total sales, compared with 5% for Qiagen and 3% for Diasorin, an activity which is also proving to be accretive in terms of profit margins", continues the research firm.

Deutsche Bank, which has a buy recommendation on the stock, has accordingly raised its price target from €130 to €132.

At around mid-day, bioMérieux was up 0.8% in a Paris market that was up a small 0.1%.

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