Download full report with analyst certification and important disclosures
Sep 2 2020, 07:15 IST/BST
Uniphar
H1 2020 results: M&A drives high-single-digit upgrades
- Sectors : Pharma and healthcare
- Companies : Uniphar
DAVY VIEW
The highlight of today’s release is the acquisition of Hickey’s retail pharmacy chain, an attractive asset which we expect to be 8% accretive to FY 2021 EPS. We also believe the M&A pipeline remains active across both Product Access and Commercial & Clinical. On trading, the current year outlook has been confirmed. We move our 12-month price target to €2.55 (from €2.35). We think a share price of >€3.50 is possible in 18-24 months on continued strong execution and re-rating. Conference call is at 09:00 BST.
