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'Medicine is starting to work', JPM upgrades Fresenius



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** J.P.Morgan upgrades Fresenius FREG.DE to "overweight" from "neutral" as it sees earnings compression at the German healthcare group coming to an end

** The broker says Fresenius delivered results above expectations in each of the last four quarters and management made progress in improving the corporate structure

** "With progress on simplification, improvement in Kabi and potential for another near term upgrade, we see scope for further outperformance," JPM adds

** It expects a decrease in earnings estimates due to the sale of Fresenius Medical stake, but believes this is already understood by the market

** Out of 20 analysts that cover Fresenius, 16 rate the stock "strong buy" or "buy," and four rate it "hold" - LSEG





Reporting by Chiara Holzhaeuser

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