HALISTER1: Grifols Is Good Buy, Shares Have 20% Upside, Says Oddo & Cie

Grifols Is Good Buy, Shares Have 20% Upside, Says Oddo & Cie

(Bloomberg) -- Grifols laboratories are a unique opportunity in healthcare as world’s only pure player of significant size in plasma derivatives, Oddo & Cie analysts Sebastien Malafosse and Pierre Corby write in note.
  • Plasma derivatives -- proteins extracted from blood donors’ plasma for therapeutic use -- is a dynamic market relatively sheltered from price pressure
    • Treatments in plasma derivatives market combined represented global revenues of EU18b in 2016
  • Grifols is in good position, with 18% market share, to outperform sector over the next few years with EPS CAGR of 15% vs 12.7% for specialty pharma players
  • Co. should post annual sales growth of 5.1% over next 5 years
  • Initiates share coverage with a buy rating

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GRF SM (Grifols SA)

People
Pierre Corby (Oddo & Cie)
Sebastien Malafosse (Oddo & Cie SCA)

Topics
Holding Increases

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UUID: 7947283

HALISTER: Vivendi Received Interest for Music Unit Valuing It at EU13.5b

Vivendi Received Interest for Music Unit Valuing It at EU13.5b

(Bloomberg) -- Vivendi received an interest for Universal Music Group, Vivendi’s General Counsel and management board member Frederic Crepin says at AGM in Paris.
  • Some banks value UMG at EU20b, Vivendi Chairman Vincent Bolloré says at meeting.

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
VIV FP (Vivendi SA)

People
Frederic Crepin (Vivendi SA)
Vincent Bollore (Bollore SA)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Desein, Lahari Laminates Cut

INDIA RATINGS: Desein, Lahari Laminates Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • Desein
    • Cash credit cut to BBB from A- at ICRA
    • Cites increase in working capital intensity
  • Lahari Laminates
    • Long-term bank facilities cut to BB+(SO) from BBB-(SO) at Care
    • Cites revision in the rating of guarantor Nutan Ispat due to deterioration in financial performance

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: LVMH to Buy Christian Dior Couture; Arnault Christian Dior Bid

LVMH to Buy Christian Dior Couture; Arnault Christian Dior Bid

(Bloomberg) -- Proposed purchase of Christian Dior Couture by LVMH will add to LVMH earnings in the first year, the cos say in a statement.
  • Christian Dior Couture enterprise value EU6.5b
  • Arnault family makes offer for Christian Dior shares at EU260; holders can take a mixture of cash and Hermes shares, straight cash or straight Hermes shares
  • Boards back deals unanimously; Arnault’s bid is subject to financing.

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
CDI FP (Christian Dior SE)
MC FP (LVMH Moet Hennessy Louis Vuitton SE)

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UUID: 7947283