Sanofi: Diabetes guidance is updated and now what are we left with?
BUY, Fair Value EUR96 vs. EUR103 (+6%)
Once the adjustment for the new guidance in Diabetes is factored in, the
question to ask is whether there is any growth left at the earnings level at
Sanofi over the period 2015-2018? Under our scenario and revised figures, it
would be less than 5% by 2018. We think it is reasonable to wait until November
the 6th and the MMM before deciding whether it is worth buying at the current
level.
For more information, please contact marketing@bryangarnier.com
For more information, please contact marketing@bryangarnier.com