Oddo BHF analyst Juan Ros Padilla downgraded Grifols to Underperform from Outperform with an EUR 9 price target after resuming coverage of the name. The analyst says damage from Gotham’s short report will take some time to repair and that answers given by the company have been insufficient, prompting concern institutional investors may decide to cut investments as there are “few incentives” to hold a “controversial and highly levered stock.”
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Read More on GRFS:
- Grifols says Gotham City ‘repurposing old information out of pure self-interest’
- Grifols up 6% to $9.26 after further responding to short report
- Grifols adds to Gotham City response, will initiate legal action
- Gotham City owner reduced short position in Grifols to 0.06%, Bloomberg reports
- Grifols issues response to Gotham City Research report
