2invest AG
GBC reiterates ‘BUY’ recommendation for SYGNIS
DGAP-News: SYGNIS AG / Key word(s): Research Update Press Release GBC reiterates “BUY” recommendation for SYGNIS – Share price target of EUR 3.70 – Acquisition of C.B.S. Scientific with annual revenues of Madrid, Spain, and Heidelberg, Germany, January 26, 2017 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced that GBC Research, a German independent research house focusing on listed small and midcap companies, has published a research update on the company. In its current analysis, GBC reports on SYGNIS’ recent acquisition of profitable US life sciences tools company C.B.S. Scientific, located in San Diego, CA, USA, for a total amount of USD 0.9 million. Following SYGNIS’ acquisition of UK-based Expedeon in mid 2016, GBC assesses the C.B.S. deal as a further synergistic expansion. In addition to the positive effect on SYGNIS’ earnings with approximately USD 1.50 million, the acquisition of C.B.S. is also expected to generate synergies in terms of sales and production as a result of a planned combination with the Expedeon site in San Diego. GBC has adjusted its revenue forecast to EUR1.94 million for 2016 following the guidance announced by the company, as Expedeon revenues only can be considered from August to December. Fiscal years 2017 and 2018 have been updated accordingly with the C.B.S. acquisition. The fair value per share at the end of the 2017 financial year equates to a target price of EUR3.70 GBC’s buy recommendation remains unchanged. To read the full research report, please visit:
MC Services AG
SYGNIS AG is specialized in the development and the commercialization of proprietary technologies and offers a wide range of different commercial products addressing key challenges in molecular biology. With the acquisition of Expedeon Holdings, Ltd. based in Cambridge, UK, SYGNIS has added a complementary proteomic product portfolio. Resulting from this significant expansion, SYGNIS’ product portfolio now covers the entire workflow of molecular biology. The products are sold through a direct sales force and several distribution partners in Europe, the US and Asia. SYGNIS AG has offices in Germany, Spain and the UK, production sites in the UK and the US as well as sales offices in Asia. The company is listed on the German Stock Exchange in Frankfurt in the Prime Standard segment (Ticker: LIO1; ISIN: DE000A1RFM03). ### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason.###
26.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | SYGNIS AG |
Waldhofer Str. 104 | |
69123 Heidelberg | |
Germany | |
Phone: | +49 (0) 6221 3540 125 |
Fax: | +49 (0) 6221 3540 127 |
E-mail: | investors@sygnis.com |
Internet: | www.sygnis.com |
ISIN: | DE000A1RFM03 |
WKN: | A1RFM0 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |