Berenberg Upgrades Sanofi-Aventis (SNY) to Buy; Favorable Risk/Reward
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Jefferies Cuts Price Target on Crown Holdings (CCK) Following 3Q
- Jefferies Cuts Price Target on Packaging Corp. (PKG) to $93; Reiterates Buy
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!