Analyst Michael Ryskin of Bank of America Securities maintained a Buy rating on West Pharmaceutical Services (WST – Research Report), retaining the price target of $355.00.
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Michael Ryskin’s rating is based on the strong performance of West Pharmaceutical Services despite some initial disappointing guidance for FY25. The company exceeded expectations in its fourth quarter with total sales of $749 million, surpassing both Bank of America’s and the street’s estimates, and organic sales growth of 3.3% compared to a predicted 1.4%. This outperformance was largely driven by the strength in Proprietary Products, particularly high-value products within the Delivery Devices segment, which saw significant growth and contributed positively to the overall sales.
Despite the projected headwinds for 2025, including challenges related to discrete investments and reduced customer incentives, Ryskin maintains a Buy rating for WST. This is attributed to West Pharmaceutical Services’ competitive position and value-added opportunities in the packaging industry, which are expected to counterbalance temporary obstacles. The company’s strategic initiatives and continued focus on high-value products are likely to sustain its growth trajectory, making it a favorable investment opportunity.
According to TipRanks, Ryskin is a 3-star analyst with an average return of 1.0% and a 46.83% success rate. Ryskin covers the Healthcare sector, focusing on stocks such as Agilent, Danaher, and Bruker.