(Boursier.com) — At the bottom of the list, Guerbet stumbles 4% to 17 euros, sanctioned after his warning. The pharmaceutical group has indicated that its 2022 growth will be less than 2% on a like-for-like basis and constant exchange rate, against a previously announced range of 2 to 4%. In terms of profitability, Guerbet has specified that it is aiming for an EBITDA / Turnover rate of between 13 and 14%, excluding exceptional costs linked to the optimization of the Group’s operational plan and the evolution of the sales model in China, against 14.4% previously announced (corresponding to the rate achieved in the 2021 financial year).
Unlike many companies, the next quarters should not present an unfavorable base effect, explains Oddo BHF. In terms of publications, from now on, the dynamic should a priori appear less deteriorated. However, 2022 is impacted by unforeseen effects and despite the sharp fall in the stock, in terms of timing, the growth drivers (launch of Elucirem and AI solutions) should only be significant at the end of 2023, or even 2024. … “We would therefore rather say that we still have to wait before repositioning ourselves”, concludes the analyst, ‘neutral’ on the value.
Portzamparc speaks for his part of a publication “of good quality, but again contrasted by an operational situation which is slow to normalize on the North Carolina site” (…) “If the priority given to the production of Elucirem recently authorized by the FDA is amply justified, the dependence on the Raleigh site to ensure its launch in 2023 is not devoid of uncertainties After a downward revision of our scenario and an update of the market parameters (WACC 9.7 %), our price target is lowered from 26.6 euros to 20.2 euros with a downgraded recommendation from ‘Buy’ to ‘Strengthen'” concludes the analyst.
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