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On Friday, Deutsche Bank (ETR:DBKGn) analyst Emmanuel Papadakis upgraded Sanofi (NASDAQ:SNY) stock from Sell to Hold and increased the price target to €100.00 from €85.00. The adjustment followed Sanofi’s solid performance in the fourth quarter, which Papadakis noted confirmed a business in reasonable shape, exhibiting solid near-term growth with limited specific risks.
Sanofi’s recent quarter results impressed the analyst, leading to a more positive outlook on the stock. Papadakis highlighted the company’s clarified buyback program, which mitigated concerns over potential risks associated with mergers and acquisitions. Additionally, the analyst observed a decrease in competitor risks, with particular reference to certain drugs that now seem less threatening to Sanofi’s market position.
Papadakis also pointed out the good volume rebound for Sanofi’s Dupixent thus far into the year, which is a favorable sign for its chronic obstructive pulmonary disease (COPD) treatments. Despite the competitive intensity from other treatments in the same class, the performance of Dupixent provides a reason for a less cautious stance on the company’s stock.
The upgrade to a Hold rating reflects a shift in sentiment by Deutsche Bank, suggesting that Sanofi’s current strategy and market performance have alleviated some of the concerns that previously warranted a Sell rating. The new price target of €100.00 represents a notable increase, indicating a revised expectation for the stock’s potential value.
Investors in the market may view this upgrade as a sign of Sanofi’s stability and potential for sustained growth, considering the factors outlined by Deutsche Bank’s analysis. Sanofi’s stock may respond to this news in upcoming trading sessions as market participants digest the updated rating and price target.
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