Sanofi upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Richard Vosser upgraded Sanofi (SNY) to Overweight from Neutral with a price target of EUR 105, down from EUR 110. The firm sees positive risk/reward into the company’s data readouts as it believes little pipeline value is being priced into the shares. Sanofi is undervalued even in the unlikely event of these assets being worth zero, the analyst tells investors in a research note. JPMorgan says Sanofi is trading at a 20% discount to the sector.