Diasorin hit by profit-taking and JPMorgan's 'underweight' rating

(Il Sole 24 Ore Radiocor) - Diasorin on a rollercoaster ride in the last two sessions: after the eve's rally, with Morgan Stanley's "promotion", which revised upwards the recommendation to "overweight" from "equal weight" with a target price increased from 100 to 101 euro, the stock of the molecular diagnostics laboratory and immunodiagnostics group dropped more than 4 points. In addition to the profit-taking after the eve's run, the stock is also weighed down by a negative analyst rating: JPMorgan has initiated coverage with an 'underweight' rating and a target price of EUR 75.40, about 13% lower than current values.

The investment bank cited the structural challenges facing the group, highlighting in particular "its high exposure to immunodiagnostics, where increasing competition and reimbursement pressures represent significant obstacles". JPMorgan's analysis indicates a limited margin of progress for Diasorin, with estimates 7% below consensus for FY2026 Ebitda and 12% below consensus for FY2027 Ebitda. "Although Diasorin shares have already fallen 9% since the start of the year, reflecting some risks, the stock is still trading at a price-to-earnings ratio of 20.5 times for FY2026, suggesting a potential further decline due to expected downward earnings revisions in the medium term, they said.

Among other things, according to press rumours reported by Il Sole 24 Ore and Reuters, Diasorin could leave the Ftse Mib as early as the next quarterly review (the deadline for calculations related to the index update, linked to market capitalisation and share liquidity, will expire on Monday). As sources report, Lottomatica Group, which will represent a potential weighting in the index of 0.95%, could in fact enter the main list, undermining one of Diasorin (down around 0.3%) and Pirelli & C (0.35%). At current prices, the parameter used for the ranking is practically identical, traders explain, making it impossible to determine with certainty which of the two will exit the index.