FRANKFURT (dpa-AFX) - Despite a buy recommendation by the British bank HSBC, Sartorius shares fell slightly in early trading on Wednesday. They fell by 0.40 percent to 322.40 euros. After the strong run of the past two months, some investors were able to continue to cash in.

HSBC analyst Rajesh Kumar is positive about the growth potential of the pharmaceutical and laboratory supplier. After a difficult year in 2024, he is also more confident about the biotech sector in general.

In 2023, Sartorius - like the industry as a whole - was hit by a reduction in inventories by customers who had stocked up on too much material during the coronavirus pandemic. With a price loss of around 10 percent, the shares were ultimately also among the biggest losers in the DAX, which rose by around a fifth last year.

Nevertheless, Sartorius shares had recovered by more than 60 percent from their annual low of just over 215 euros in October to almost 350 euros by the beginning of January, before some investors took profits.

The focus is now on the 21-day line. This short-term trend indicator is still pointing upwards and is currently just below EUR 330. It could be a hurdle on the way up, but a jump above it could provide further positive impetus.

The shares of Sartorius subsidiary Sartorius Stedim were up 0.6 percent in the morning at 243.60 euros. The HSBC expert is also optimistic about Stedim: he raised the price target to 330 euros and rates the shares as a "buy".

Stedim currently has a market capitalization of 22.5 billion euros. By comparison, Sartorius, which holds almost 74 per cent of Stedim, has a market capitalization of slightly less than 22 billion euros./mis/ck/men