
Research Alert: CFRA Keeps Sell Opinion On Ads Of Fresenius Medical Care

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CFRA maintains a 'Sell' opinion on Fresenius Medical Care (FME), adjusting the target price to USD19 from USD21 due to long-term growth uncertainties linked to high excess mortality rates. Q1 2026 revenue fell 5.5%, although organic growth was positive at 3.9%. Operating margin improved, supported by cost savings and new system rollouts. Despite reaffirming 2026 guidance, challenges in U.S. treatment growth and uncertainty in volume recovery remain concerns. EPADS estimates for 2026 and 2027 have been adjusted downward.

