J.P.Morgan reiterates 'overweight' on Recordati, notes 'fairly strong organic growth'

Recordati Industria Chimica E Farmaceutica SpA

06/06/2025 11:09

** Italian drug maker Recordati's RECI.MI shares rise 2.8% to 54.5 euros; earlier up as much as 3.4% to hit biggest intraday pct high since March

** J.P.Morgan maintains "overweight" rating, raises PT to 67 euros ($76.63) from 65 euros

** JPM makes single-digit upgrades to 2025-2030 revenue, EBITDA, and EPS forecasts

** We see Recordati offering a fairly strong organic near, medium and long-term growth rate, with little patent expiry challenges - JPM

** Notes company's low U.S. exposure, around 18% of revenues, provides buffer against tariffs and Most Favoured Nations (MFN) pricing; updated PT implies about 30% upside

** Among 11 analysts, four rate it "strong buy" or "buy", ​six "hold" and one "sell"

** Stock up 7.61% YTD, including day's rise

($1 = 0.8744 euros)

 (Reporting by Laura Contemori)

 ((Laura.contemori@thomsonreuters.com))