Berenberg Ups Sartorius AG Price Target Ahead of Q2 Results; Buy Rating Kept

Berenberg raised its price target for Sartorius AG (SRT.F, SRT3.F) ahead of the company's second-quarter results on July 23, reflecting "higher confidence" in its long-term outlook on the back of end-market improvements. The research firm said Friday it expects the life science equipment and technology supplier's group revenue to grow 7.9% in the second quarter, above the 7.5% consensus, boosted by its bioprocessing division amid expected gains in consumables and equipment. "We are more focused on Q2 growth, as well as the commentary it provides regarding current trading and forward-looking indicators. Sartorius faced a challenging period following COVID-19 when it had poor demand visibility. Therefore, while we ultimately expect the company to deliver growth at the high end of the guided range, management could take a cautious approach when setting guidance," Berenberg said. Against this backdrop, the stock's price target was raised to 270 euros from 250 euros, with an unchanged buy rating.