UBS sees Biomerieux as compelling entry point, starts with 'buy'

Biomerieux SA

22/08/2024 09:15

** UBS initiates coverage of French biotechnology company
Biomerieux  BIOX.PA  with "buy", calling it a compelling entry
point
    ** The broker points to the company's new point-of-care
technology SPOTFIRE as so game changing compared to existing
technologies that it can expand the market of the highest
potential subsector in diagnostics: point-of-care testing
    ** "We believe this is a compelling entry point for the best
R&D story in European Medtech," says UBS calling Biomerieux a
serial innovator that is seriously mispriced
    ** UBS set a 12 month price target at 129 euros, up 31% from
Wednesday's market close
    ** Out of 16 analysts that cover Biomerieux, 13 rate the
stock "strong buy" or "buy," two rate "hold" and one rates the
stock "sell"

 (Reporting by Charlotte Eugenie Yvette Bawol)
 ((CharlotteEugenie.YvetteBawol@thomsonreuters.com;))