(CercleFinance.com) – Royal Bank of Canada initiated coverage of the Almirall stock on Tuesday with an ‘outperformance’ opinion and a target price of 13.5 euros.
In a research note released yesterday evening, RBC said it expects the portfolio of dermatological products built by the Spanish pharmaceutical company to generate ‘exceptional’ growth over the coming years.
‘Throughout the last decade, Almirall has made a strategic refocusing on dermatology, a high-growth specialty,’ recalls the intermediary in his study.
‘After a few setbacks, the group finally seems ready to achieve its objectives thanks to its two flagship products, Ilumetri and lebrikizumab’, he continues.
These two treatments, respectively intended for psoriasis and eczema, should enable it to generate sales growth of around 9% per year and EBITDA of around 11% over the period 2022-2027, adds RBC, a perspective that he says contrasts with the fact that the title is being traded today on the basis of a discount of 7% compared to its comparables.
At current price levels, his target shows an upside potential of 56%.
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