Results for Q4. BB Biotech's NAV significantly outperforms a negative market scenario
In Q4'08 BB Biotech's NAV and share price strongly outperformed all benchmarks, which showed a negative trend in the face of the difficult market environment. Following the release of Q4'08 results, we have updated our valuation and set a €63 target price (51% potential upside). Given the possible price appreciation, we have upgraded our recommendation from Hold to Buy.
In Q4'08 BB Biotech's NAV and share price strongly outperformed all benchmarks, which showed a negative trend in the face of the difficult market environment. Following the release of Q4'08 results, we have updated our valuation and set a €63 target price (51% potential upside). Given the possible price appreciation, we have upgraded our recommendation from Hold to Buy.