On Tuesday, Jefferies renewed its Buy recommendation and €115 price target on Sanofi, as part of a broader review of the pharmaceuticals sector.

In its note, the analyst says he expects Beyfortus sales to "impress" at the company's fourth-quarter results presentation, scheduled for February 1, which should help the French group to beat earnings expectations.

While Jefferies points out that the outlook for 2024 is already well integrated by the market, it considers that the scenario of a "strong rebound" in earnings by 2025 seems to be ignored by the financial community for the time being.

According to the intermediary, the main elements to be monitored from now on are Beyfortus sales in the prevention of respiratory syncytial virus (RSV) bronchiolitis in newborns, the dynamics of the messenger RNA flu vaccine market, the adoption of Dupixent in COPD and the progress of the Consumer Healthcare demerger project, scheduled for the fourth quarter.

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