Sartorius Stedim shares break above €228.40 and target the €230 level
The bioprocessing specialist extends its rally in a well-oriented SBF 120. The stock has just cleared a technical threshold it had not crossed in over a year, and its gaps with its three moving averages continue to widen.
Break above the highest level of the last 250 sessions, with €230 in sight
The stock of Sartorius Stedim Biotech gains 2.33% to €228.80 intraday and ranks among the largest gainers in the SBF 120, which rises 0.78%. It has moved above its highest level of the last 250 sessions at €228.40, which now acts as support, and is holding above it.
The next round level, at €230, has never been tested. The share price is 4.86% above its MM20 and 25.08% above its MM200, extending a quarter with a gain of +32.33%. This rise follows the break above the €221.80 resistance on October 29, a few days after the publication of the first nine months' accounts.
Nine months of growth: targets confirmed and a stock valued at 45.9 times earnings
At the publication on October 22, the group reported activity up 7.8% at constant exchange rates over nine months, with free cash flow up 58.5% and annual targets confirmed. Management then expressed increased confidence for the end of the year, supported by 10.6% growth in Asia/Pacific at constant exchange rates.
Among the risks cited in this document are sector volatility and geopolitical uncertainties. According to the consensus of the analysts surveyed, the stock trades at about 45.9 times earnings for the current fiscal year and 37.8 times those of the following fiscal year.
The RSI at 64 remains below overbought zones, and the next reference point is the €230 level.
