Grifols transaction at favorable valuation a positive, says Morgan Stanley

After Grifols announced the sale of a 20% stake in Shanghai RAAS to the Chinese MCN Haier Group Corporation for $1.77B, Morgan Stanley analyst Thibault Boutherin said the firm sees the valuation as “favourable for Grifols” and believes the deal will allow Grifols to reach its leverage target for the end of 2024. The firm, which calls the deal “a positive transaction achieving strategic objectives and further building management’s standing with investors,” has an Equal Weight rating and EUR 14 price target on Grifols shares.