Sanofi assumed with a Buy at Jefferies

Jefferies assumed coverage of Sanofi (SNY) with a Buy rating and EUR 100 price target calling it the analyst’s EU Pharma top pick. Valued at about a 15% discount to the sector, the firm believes the perception that Sanofi lacks a pipeline to offset the 2031 Dupixent patent expiry is “incorrect,” with upcoming catalysts over the next 12 months set to build confidence, the analyst tells investors.