Fagron: Best day in over 2 years on limited COVID-19 impact
14/04/2020 09:17
** Shares in Fagron FAGRO.BR jump more than 13% after the
Belgian pharmaceutical ingredients supplier says the impact of
COVID-19 on its performance is as yet limited and non-material
** "While the COVID-19 outbreak caused a shift in demand
from Fagron's broad product offering, net impact seems
positive", KBC Securities says
** Fagron's Q1 turnover rises 16.4%, with KBC Securities
noting the company's beat on revenue and organic growth
expectations in all geographies urn:newsml:reuters.com:*:nFWN2C10YL
** "Fagron's supply chain is clearly holding up in times
when certain pharmaceutical products are in exceptional demand
due to COVID-19," KBC securities says
** "It becomes clearer a net positive effect of the COVID-19
outbreak is within Fagron’s reach", the broker adds, upgrading
the stock to "buy" from "hold"
** The stock is among the best performers on the AEX All
Share Index .AAX
((Charles.regnier@thomsonreuters.com))