Viatris price target lowered to $10 from $14 at Piper Sandler

Piper Sandler analyst David Amsellem lowered the firm’s price target on Viatris (VTRS) to $10 from $14 and keeps a Neutral rating on the shares after hosting a dinner with senior leadership and investors. The firm came away with a better understanding of the company’s challenges out of its manufacturing facility in Indore, India. Taking a step back, Piper says that though it would be tempting to assert that shares are now trading at an attractive risk/reward profile at an EV/2025 EBITDA of 6-turns and in the context of what in its view are resolvable manufacturing issues, it would be equally tempting to assert that the lack of visibility into a clear growth catalyst could translate into the shares trading sideways for the foreseeable future.