UBS Tips Genomma Stock, Sees M&A

UBS Tips Genomma Stock, Sees M&A


UBS has initiated Mexico’s Genomma with a buy rating and a MXP21.95 target, up from MXP15.40 Monday. Genomma Lab’s priced in June a $200m IPO at MXP16, the low end of a MXP16-20 target, in a deal managed locally by IXE and Santander, and internationally by UBS/Merrill Lynch. “At our price target, Genomma would be trading at a PE of 14.7 times our 2009 estimate, versus the current 2009E PE of 10.3 times,” says UBS. “This would still put Genomma at a significant valuation discount to most other gl

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