Mediobanca starts PharmaNutra share coverage
Published: 19 December 2019 08:44
Publication of the start of coverage survey drafted by Mediobanca; declaring a target price at €24.50.
PharmaNutra S.p.A. has appointed Mediobanca S.p.A. as Corporate Broker as part of its growth process; to develop and further support relations and communications between the company and current and future institutional investors and the company’s industrial growth.
The launch of PharmaNutra share coverage by Mediobanca coincides with publication of the survey in which the bank indicates a “NEUTRAL” rating, setting the target price at €24.50 with an 9.3% upside compared to the last 18ᵗʰ December closing price of €22.4 per share.
The survey illustrates the main growth drivers. In Italy, the PharmaNutra Group intends to carry on strengthening of its commercial structure. The project began during 2019 with an evolving sales network aimed at not only numerical growth, but also greater specialisation and capillarity in the various application areas. Simultaneously, finalising new international distribution agreements and consolidating the over fifty, existing, foreign partnerships will enable the Group to strengthen its presence in Asia, Africa and America, not just on the European market. Hence, a general strengthening of company assets. Naturally accompanied by intense R&D activities, to expand the product portfolio and diversify the therapeutic treatment areas, thanks to newly attained patents.
“Publication of the Mediobanca survey is a precious reference tool for company growth and its reputation on the financial market”, declares the Vice President and CEO of PharmaNutra S.p.A. Roberto Lacorte. “An especially reliable tool as it comes from a structure that needs no introduction. To be considered a further, exclusive, prestigious visiting card for PharmaNutra, its solidity, value and ambition”.
The Mediobanca survey publication is available in the Investor Relations section of the company website.