Stifel has reaffirmed its 'buy' recommendation and 83 euro price target on Equasens, following meetings with senior management which focused in particular on short-term activity and the health of French pharmacies.

While short-term activity seems weaker than we had hoped for when we raised our opinion on the stock at the beginning of June, we remain confident in the potential for recovery and long-term growth", says the broker.

"With a change in momentum and higher growth rates in the second half of 2024 and in 2025, we continue to believe that Equasens could revalue at 15 times EBITDA", adds Stifel.

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