Redcare Pharmacy Stock Down 40%: Analysts See 175% Upside
Redcare Pharmacy's stock has been struggling this year, down 40% to 77.25 euros. Despite this, Deutsche Bank has reiterated its 'buy' recommendation for the stock, setting an ambitious target price of 214 euros, suggesting a potential 175% upside.
Six analysts agree with Deutsche Bank's bullish stance, while one is neutral and another advises selling. The average target price stands at 153.75 euros, nearly double the current stock price. Retail investors, holding 40% of shares, and institutions like SMALLCAP WORLD FUND INC and T. Rowe Price International Discovery Fund, have increased their positions, seeing Redcare Pharmacy as an opportunity despite slower growth.
The stock's performance has been marred by concerns about competition and the unexpected departure of CFO Jasper Eenhorst. Although prescription medication trends are positive, this has gone largely unnoticed in the stock market. Redcare Pharmacy's growth has not met some market players' expectations in recent months and years.
The stock has fallen significantly this year, but analysts remain optimistic, with a majority recommending a 'buy'. Key investors continue to show confidence in the company, despite slower growth and recent challenges. The stock market awaits signs of recovery in Redcare Pharmacy's performance.
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