Invest Securities maintains its 'buy' rating on Grifols shares, along with its €16 target price, a stock which it considers 'undervalued', following the Spanish healthcare group's results, which 'are in line with the favourable medium-term trend'.

'The publication of quarterly results and the conference call held last week were fairly reassuring," the analyst says, noting growth above expectations and the confirmation of 2025 targets.

Nevertheless, after adjusting for the currency effect, which is "significantly more detrimental for the rest of the year," Invest Securities now expects the company to reach the lower end of its guidance range (compared with the upper end previously).


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