VALNEVA : Valneva Reseach buy 8,6 tp

fabio60

25 avr. 2024 •11:54

Classification of First Berlin Equity Research GmbH to Valneva

Company Name: Valneva
ISIN: FR0004056851

Reason for the research: Update
Recommendation: Buy
from: 12.04.2024
Target price: €8.60
Target price on sight of: 12 months
Last rating change: -
Analyst: Simon Scholes

First Berlin Equity Research has published a research update on Valneva SE
(ISIN: FR0004056851). Analyst Simon Scholes reiterated his BUY rating and
maintained his EUR 8.60 price target.

Abstract:
The final 2023 results release package provided upward guidance revisions
and improved medium-term visibility in several key areas. In addition,
Valneva has also announced the 18 month extension of the interest-only
period on USD100m of debt. This means Valneva will not have to repay any
debt principal in either 2024 or 2025 and suggests the company will be
able to reach consistent positive free cashflow following the expected
2027 Lyme disease vaccine launch without diluting shareholders. Our
recommendation remains Buy with an unchanged price target of €8.60.
You can download the research here:
http://www.more-ir.de/d/29395.pdf