BofA analyst Michael Ryskin raised the firm’s price target on West Pharmaceutical (WST) to $355 from $350 and keeps a Buy rating on the shares. The Life Sciences Tools sector underperformed again in FY24 as Pharma and Biotech customers reined in spending after overspending during the pandemic and China remained “very subdued,” the analyst tells investors. Entering 2025, “the setup is almost identical, so there is a healthy dose of skepticism among investors who have been burned over the past year,” says the firm, which adds that thinks “there are finally some encouraging signs on the horizon.” In conjunction with its year ahead preview for the group, the firm adjusted a number of price targets.
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Read More on WST:
- West Pharmaceutical initiated with a Peer Perform at Wolfe Research
- West Pharmaceutical upgraded to Buy from Neutral at UBS
- West Pharmaceutical Expands Board with New Director
- West Pharmaceutical Services (WST) Reveals Q4 Dividend: Here’s the Essential Information
- West Pharmaceutical rises 21.8%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
