Grifols shares offer ‘compelling buying opportunity,’ says Berenberg

Berenberg lowered the firm’s price target on Grifols (GRFS) to EUR 19.30 from EUR 19.40 and keeps a Buy rating on the shares. Three things matter for Grifols’ share prices: the business, the balance sheet and the boardroom, the analyst tells investors in a research note. The firm says Grifols has made meaningful progress on all three in 2024. The company’s EBITDA is recovering to what should be a record high in 2024, various aspects of its debt have been addressed and there have been significant changes to both the C-suite and to the board, contends Berenberg. With the class A shares down 39% year-to-date, the firm thinks Grifols offers a “compelling buying opportunity” at current levels.