#6617
Re: Grifols (GRF): siguiendo de cerca la acción
Os comparto un informe de Morgan Stanley de sept. de 2020, donde estudia detalladamente cada empresa en EEUU. Hace un estudio detallado de los centros de plasma y llama la tención la valoración que le dieron sabiendo el impacto que tuvo COVID.
Morgan Stanley Research, U.S Food & Drug Administration
US collection centres by state with weekly risk rating from the US Biotech team
Morgan Stanley Plasma Plays
Grifols SA(GRLS.MC)
Our price target of €32 comprises of €34 underlying value, based on 24x 2 year forward
EPS, and -€2 negative impact from anti-FcRn agents. Our target multiple represents a
~10% premium to Grifols' 5-year average P/E, to reflect faster earnings growth, but
remains a ~35-40% discount to its key best-in-class peer, CSL, to reflect Grifols' plasma
concentration risk and EU vs AUS discount.
Grifols SA(GRLS.MC)
Our price target of €32 comprises of €34 underlying value, based on 24x 2 year forward
EPS, and -€2 negative impact from anti-FcRn agents. Our target multiple represents a
~10% premium to Grifols' 5-year average P/E, to reflect faster earnings growth, but
remains a ~35-40% discount to its key best-in-class peer, CSL, to reflect Grifols' plasma
concentration risk and EU vs AUS discount.