BNP Cuts Rovi To 'Neutral' Amid Absence Of Immediate Growth Drivers
18/06/2024 10:50
** BNP Paribas cuts Spanish pharmaceutical company Rovi
ROVI.MC to 'Neutral' from 'Outperform' citing fair valuation
and the absence of immediate growth drivers
** After being a top performer among Spanish Mid Caps over
the past year, following the US approval of Risvan and a major
CDMO contract announcement, the company faces limited short-term
catalysts according to a BNP Paribas note
** The broker believes that despite these strong midterm
prospects, significant gains are not expected before 2026
** Recent speculations in the media about the sale of its
CDMO business adds uncertainty, despite potential high
valuations, says BNP Paribas
** Out of 9 analysts that cover ROVI, three rate the stock
"strong buy" or "buy", five rate "hold" and one rates the stock
"strong sell"
(Reporting by Maria Luiza Amaral)
((Gdansk.newsroom@thomsonreuters.com ; +48 58 7696600))