On Thursday, Berenberg reiterated its Buy recommendation on UCB, while raising its price target for the Belgian pharmaceutical group's shares from 120 to 130 euros.

In a research note, the analyst stresses that the group has enjoyed a solid start to the year after a transition phase which penalized both its financial performance and its stock market performance.

With four new product launches currently underway, the laboratory is now well on track to benefit from a future period of growth, he concludes.

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