Voltalia: An acquisition that makes sense, despite being dilutive on margin
BUY, Fair Value EUR13 (+46%)
Roche: APHINITY – it is worth taking the residual risk
BUY, Fair Value CHF293 (+19%)
AXA: At first sight the 2020 plan looks solid
BUY-Top Picks, Fair Value EUR29 (+41%)
Dassault Systèmes: Feedback from Capital Markets Day: highlighting the value-based approach
SELL, Fair Value EUR63 vs. EUR62 (-6%)
Genmab: Daratumumab caught everyone's eye once again
BUY, Fair Value Under Review
Morphosys "Back for MORe"
FV EUR62 BUY Coverage initiated
A more focused Sanofi is on the way
FV EUR83 vs. EUR86 NEUTRAL
Albioma: Further development in Brazil, as planned by management
BUY, Fair Value EUR16 (+12%)