Berenberg Upgrades Sanofi-Aventis (SNY) to Buy; Favorable Risk/Reward
- World stocks hold near 16-month highs after strong week
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Oil edges higher on optimism over non-OPEC output cuts
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Sibanye Gold (SBGL) to Acquire Stillwater Mining Company (SWC) in $2.2B Deal
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Berenberg upgraded Sanofi-Aventis (NYSE: SNY) from Hold to Buy with a price target of EUR93, saying risk/reward is favraoble.
Analyst Louise Pearson commented, "Sanofi shares have underperformed the healthcare index by 15% over the last 12 months, and have de-rated from 15x to just c13x forward earnings, making it the cheapest stock in our European large-cap universe. This performance is largely due to problems in the diabetes business. While there are still potential bumps in the road ahead, we feel that the shares have been overly discounted. The risk/reward opportunity is now favourable and we see over 30% upside to our price target. We upgrade to Buy."
Shares of Sanofi-Aventis closed at $39.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q
- Steelcase (SCS) Reports Preliminary Q3 EPS In-Line with Views, Revs Light
- Oracle (ORCL): Earnings Preview, Checks Show Strong Cloud Revenue - Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!