West Pharmaceutical (WST) PT Raised to $350 at BofA Securities

BofA Securities analyst Derik de Bruin raised the price target on West Pharmaceutical (NYSE: WST) to $350.00 (from $300.00) while maintaining a Buy rating.

The analyst commented, "WST delivered a strong 1Q (see our first look report), with upside driven by HVP components and improved execution, alongside a raise to full-year guidance (including 7- 9% org. growth). Strength across Biologics demand, GLP-1, and annex-1, with delivery devices also contributing. The updated organic outlook is consistent with WST’s longterm growth framework but is happening much earlier than expected, with a more balanced growth profile reducing reliance on GLP-1 as the sole driver. We update our model for today’s results and our PO moves to $350 (was $300) based on 25x (was 22x – raising our multiple to reflect the strong performance) FY27 EBITDA estimates. We reiterate our Buy rating."

You May Also Be Interested In

• Deutsche Bank Downgrades L'Oreal SA (OR:FP) (LRLCY) to Sell
• Definium Therapeutics Inc (DFTX) PT Raised to $50 at Needham
• Nuvectis Pharma (NVCT) PT Raised to $39 at H.C. Wainwright