Barclays starts Biomerieux at 'overweight,' notes smoother growth among peers

Biomerieux SA

09/05/2024 11:30

** Barclays initiates the French diagnostics specialist
Biomerieux  BIOX.PA  with "overweight", saying that its organic
growth has been "smoother" than the broader in vitro diagnostics
peer group
    ** "The company has managed to grow revenues vs its 2021
base despite COVID tailwinds abating," the brokerage notes
    ** It attributes this to Biomerieux's focus on less
transitory multi-plexing testing, where customers have proven
sticky
    ** In a separate note on its Italian peer DiaSorin
 DIAS.MI , Barclays says it prefers Biomerieux because the
company offers fewer risks to its mid-term targets
    ** The brokerage sees an opportunity for Biomerieux to
expand its margin, while maintaining its high R&D expenditure
    ** Out of 15 analysts that cover Biomerieux, 11 rate the
stock "strong buy" or "buy," three rate it "hold" and one rates
the stock "sell"

 (Reporting by Shivani Tanna)