Broker snap: Shire to deliver stronger growth than peers, says Credit Suisse

LONDON (ShareCast) - Credit Suisse (NYSEArca: CSMA - news) has reiterated its outperform rating and 2,350p target for pharmaceuticals giant Shire (Stuttgart: A0MMAG - news) ahead of its full-year results due next week. The broker says that Shire is positioned to deliver the "best sales and earnings growth over the next five years versus the EU speciality pharma peer group". Credit Suisse expects the group to report fourth quarter revenues of $1,113m (consensus estimate: $1,126m) and earnings per ADS (MCX: APDS.ME - news) of 138 cents (consensus: 138 cents). Catalysts for the stock include the May 2012 US approval of Replagal, its enzyme replacement therapy for Fabry disease, and the timing of additional manufacturing capacity for both Shire and Sanofi (Paris: FR0000120578 - news) . "Longer term the question remains as to how fast global enzyme demand will grow with unconstrained supply, and how much investment will be required to develop the European ADHD market," the broker said. BC