Stephens analyst Jeff Garro initiated coverage of Certara with an Overweight rating and $28 price target. The company has created a positive feedback loop between gaining regulatory acceptance of biosimulation products use cases, landing new customers, and achieving regulatory success for those customers, the analyst tells investors in a research note. While the stock trades at a premium multiple, it is warranted, and shares have room to go higher if the company can outperform what look like "conservative" FY23 targets, Stephens added.
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