BOIRON : Oddo BHF raises its target price on the stock
September 07, 2023 at 05:24 am EDT
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Oddo BHF maintains its 'outperform' rating on Boiron shares, with its target price raised from €49 to €52.5.
The analyst reports that net income came to 15.5 ME in the 1st half (vs. 12.5 ME in H1 22), benefiting in particular from the rise in investment income from 0.5 ME to 3.8 ME, thanks to higher interest rates.
Although operating income came in at 17.8 ME - a little below expectations - the analyst believes that "the amounts are small enough to be of little significance in terms of a real disappointment, and without any real consequences...".
According to Oddo BHF, the stock market issue is elsewhere, since a proposed takeover bid is underway (50 E or 39.64 E after payment of the 10.36 E dividend). What's at stake is more a question of blocking any withdrawal that certain shareholders might attempt, rather than momentum or the 2023 earnings sequence.
Against this backdrop, Oddo BHF is raising its price target to reflect the fact that the stock is worth more than the current draft offer price.
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Laboratoires BOIRON was founded in France almost a century ago, under the impetus of homeopathic doctors who wanted to benefit from the most reliable medicines possible. Homeopathic medicines have many advantages in that they can be prescribed and advised in first line whenever relevant, in both urban and hospital settings. All actions aim to contribute to major public health issues.
Homeopathic medicines are obtained from substances called homeopathic strains, according to a manufacturing process described in the pharmacopoeia. These strains can be of plant, animal, mineral or chemical origin.
There are two main families of homeopathic medicines: common name homeopathic medicines and brand name homeopathic medicines (specialties).
BOIRON group centralizes its production and logistics in France. It also has 26 wholly-owned or leased distribution facilities in France and various offices in the countries where it has subsidiaries.
Net sales are distributed geographically as follows: France (47.9%), Europe (24.7%), North America (24.4%) and other (3%).
BOIRON 
