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Barclays starts Biomerieux at 'overweight,' notes smoother growth among peers

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** Barclays initiates the French diagnostics specialist Biomerieux BIOX.PA with "overweight", sayingthat its organic growth has been "smoother" than the broader in vitro diagnosticspeer group

** "The company has managed to grow revenues vs its 2021 base despite COVID tailwinds abating," the brokerage notes

** It attributes this to Biomerieux's focus on less transitory multi-plexing testing, where customers have proven sticky

** In a separate note on its Italian peer DiaSorin DIAS.MI,Barclays says it prefers Biomerieux because the company offers fewer risks to its mid-term targets

** The brokerage sees an opportunity for Biomerieux to expand its margin, while maintaining its high R&D expenditure

** Out of 15 analysts that cover Biomerieux, 11 rate the stock "strong buy" or "buy," three rate it "hold" and one rates the stock "sell"

Reporting by Shivani Tanna


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