West Pharmaceutical initiated with a Peer Perform at Wolfe Research

Wolfe Research analyst Doug Schenkel initiated coverage of West Pharmaceutical (WST) with a Peer Perform rating and no price target West Pharm is “perhaps the best-in-class” drug packaging and delivery company in the world, the analyst tells investors in a research note. The firm says that while management is highly regarded and has an extensive track record of strong operating discipline. Street estimates do not look conservative and even relative to those estimates, the shares are currently trading at 30-times estimated 2025 EBITDA. It expects continued “self funding” of capex to pressure West ‘s near term cash flow.