FY2015 revenue and adj PBT were 1.2% & 3.3% ahead of our forecasts respectively, driven by Genus PIC. We have made minor changes to near term forecasts and upgraded our long-term projections to reflect the strong genomic & strategic progress in Genus PIC. However, we continue to believe that lower producer profitability, currency headwinds and Asia concerns could weigh on FY2016-17 performance. We upgrade from Sell to Hold, with a target price of 1,442p (from 1,188p).
24 Sep 2015
Upgrading to Hold on improved PIC outlook
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Upgrading to Hold on improved PIC outlook
Genus plc (GNS:LON) | 1,724 -655.1 (-2.2%) | Mkt Cap: 1,138m
- Published:
24 Sep 2015 -
Author:
Dr Jens Lindqvist -
Pages:
4
FY2015 revenue and adj PBT were 1.2% & 3.3% ahead of our forecasts respectively, driven by Genus PIC. We have made minor changes to near term forecasts and upgraded our long-term projections to reflect the strong genomic & strategic progress in Genus PIC. However, we continue to believe that lower producer profitability, currency headwinds and Asia concerns could weigh on FY2016-17 performance. We upgrade from Sell to Hold, with a target price of 1,442p (from 1,188p).