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Fresenius Shares Soar on Positive Analyst Outlook
8 Sep
Summary
- Fresenius stock surged 3.6% following a positive analyst recommendation.
- UBS maintained a 'buy' rating with a €56 price target for Fresenius.
- Analyst believes concerns over the biosimilar Tyenne's US business are exaggerated.
Fresenius's stock price saw a notable increase of 3.6% on Tuesday, reaching nearly €45 and breaking an eight-day losing streak. This uplift occurred despite a generally weak sector performance. The positive momentum was largely attributed to a "buy" recommendation from Swiss bank UBS, which also set a price target of €56.
Analyst Graham Doyle of UBS expressed that apprehensions surrounding the US business for Fresenius's key biosimilar, Tyenne, are "completely overblown." He estimated the potential negative impact on the group's operating result to be minimal, at approximately 0.3%. Doyle views this situation as a compelling entry opportunity for investors, highlighting Fresenius as a top pick due to its defensive qualities.
