Biosynex (ALBIO FP) France

Healthcare

What to do with all the cash?! Management’s track record in M&A bodes well for ALBIO - having become a European leader in Covid antigen tests ALBIO now boasts €115m net cash and this war chest is expected to reach c.€150m by the end of the year (representing more than three quarters of the current M/Cap). On FY23 estimates ALBIO is valued at barely 0.2x revenue and 1.1x EBITDA (lowest multiples in the Covid testing industry), French small-caps expert Julien Onillon sees substantial upside. TP €28.00 (55% upside).

Edition: 128

- 04 February, 2022

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