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Investing.com - JPMorgan initiated coverage on BioMerieux (EPA:BIM) (OTC:BMXMF) with a Neutral rating and a price target of EUR120.50 on Wednesday.
The French in-vitro diagnostic systems manufacturer specializes in molecular diagnostics for clinical and industrial applications. JPMorgan describes BioMerieux as a "fundamentally good business" operating in attractive growth markets.
The investment bank forecasts high single-digit top-line growth and double-digit EBIT growth for the company, driven by differentiated products, supportive market fundamentals, and improving product mix.
JPMorgan’s EBIT estimates for fiscal years 2025 and 2026 are 2% ahead and in-line with consensus, respectively. The firm views BioMerieux shares as fairly valued at 23.8x FY26E price-to-earnings ratio, with the stock already up 15% year-to-date.
Despite preferring BioMerieux to peer Diasorin based on fundamentals and earnings profile, JPMorgan cites limited near-term catalysts for multiple expansion and macroeconomic uncertainty as reasons for its Neutral stance.
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