DocMorris, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Martin Comtesse from Jefferies maintained a Buy rating on the stock and has a CHF12.00 price target.
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Martin Comtesse has given his Buy rating due to a combination of factors that indicate positive growth trends for DocMorris. The company’s external group sales have shown a notable increase of 8.1% in local currency, reaching CHF282 million, which is slightly below consensus but still reflects a solid performance. Furthermore, there has been a sequential improvement in the German prescription market, with growth accelerating to 9.2% from the second to the third quarter.
Additionally, non-prescription sales in Germany have also seen an improvement, growing by 4.1%, although there is a clear competitive challenge in the German OTC market. Management has reaffirmed its revenue and EBITDA guidance for the fiscal year 2025, projecting revenue growth of over 10% and an EBITDA range of -CHF35 to -55 million. The first nine months of 2025 have shown a 9.5% rise in external sales, with TeleClinic experiencing significant growth of over 140%, and strong double-digit growth in retail media and marketplaces. These factors collectively support the Buy rating.