BioMérieux: stock outperforms, as Deutsche raises TP

(CercleFinance.com) - bioMérieux shares were up on Monday morning, boosted by a note from Deutsche Bank, which raised its target price for the laboratory's stock as the seasonal flu season ramps up in the US.


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.

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

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, DB continues.

With a buy recommendation on the stock, it has accordingly raised its TP from E130 to E132.

At around noon, bioMérieux was up 0.8% in a Paris market that was just up (+0.1%).


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