Raytheon awarded $71 million in Navy contracts for missile systems
Investing.com - JPMorgan has upgraded Sanofi (NASDAQ:SNY) (SAN:FP) from Neutral to Overweight while adjusting its price target to EUR105.00 from EUR110.00.
The upgrade comes after a first half of 2025 that included mixed pipeline readouts which had weighed on the pharmaceutical company’s shares, according to the investment bank.
JPMorgan sees a more favorable catalyst path for Sanofi’s upcoming readouts in the next 6-12 months, particularly for Amlitemab in Atopic Dermatitis and tolebrutinib in PPMS, with each trial likely to meet primary endpoints and deliver assets with over EUR1 billion in sales potential.
The firm notes that Sanofi is currently trading at 9x 2026 earnings and at a 20% discount to the sector despite projections of 5% sales CAGR and 7% EPS CAGR from 2025-2030, which is 50% above the sector average for EPS.
JPMorgan calculates Sanofi’s ex-pipeline Embedded Value at EUR105, suggesting the company is undervalued even if the pipeline assets were to be worth zero, making current price levels "a good entry point."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.