(CercleFinance.com) – Boiron gained nearly 10% in Paris, driven by an analysis by Oddo which raised its advice on the stock from ‘neutral’ to ‘outperformance’ and raised its target price to 47 euros, against 44 euro previously.
Turnover for the 4th quarter came to 147.5 ME, up 2.9% but nevertheless slightly below expectations (155.5 ME).
Over the full year, Boiron publishes a turnover of 455.2 ME, down 10.6% compared to 2020 and 2% below expectations (463 ME).
However, the broker indicates that it is raising its estimates, ‘given a lower reimbursement effect, good margin levels in 2021, savings expected from the Reorganization Plan (decrease in Opex in 2022 of 20-25 ME after 20 ME in 2021 )’.
Oddo also believes that the acquisition of a 70% stake in ABBI, a start-up specializing in individualized cosmetics, is ‘interesting’ and ‘gives an expected signal in terms of M&A’.