EuroAPI has 'all the necessary ingredients' - DB starts with 'buy'

Euroapi SA

10/05/2022 07:38

** Deutsche Bank initiates the coverage of EuroAPI  EAPI.PA 
with "buy", saying the drug ingredients business spun off from
Sanofi  SASY.PA  has "all the necessary ingredients"
    ** The brokerage says the company is well equipped to
deliver on its target for strong and profitable growth going
forward, namely 2022 revenue of EUR 1 bln ($1.06 bln)
    ** DB points to EuroAPI's leadership position in
structurally growing markets, and its initiatives to become more
efficient following the carve-out from Sanofi last year
    ** On their Paris stock market debut on Friday, EuroAPI
shares traded up 2% from their reference price of EUR 12,
valuing the contract manufacturer's equity at EUR 1.15 bln

($1 = 0.9461 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))