Citi initiated coverage of West Pharmaceutical (WST) with a Buy rating and $400 price target West is a provider of packaging and injectable solutions and services for the pharmaceutical industry, the analyst tells investors in a research note. The firm says the company is a “well-entrenched player” in the space for premium enhancements and devices, which the company labels as high value products. Citi sees “significant growth opportunities” for HVPs driven by a shift to biologics, stricter regulatory environment, and GLP-1s. Additionally, it sees “significant runway” from ongoing capacity expansions specifically geared towards higher-margin products and believes the company’s near-term margin headwinds from these expansions are understood.
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Read More on WST:
- West Pharmaceutical announces 550,000 share repurchase program
- West Pharmaceutical price target raised to $355 from $350 at BofA
- 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