William Blair analyst Matt Larew has maintained their bullish stance on WST stock, giving a Buy rating on July 18.
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Matt Larew has given his Buy rating due to a combination of factors including the strategic appointment of Bob McMahon as the new CFO of West Pharmaceutical Services. McMahon brings with him 34 years of industry experience, having held significant roles at companies like Agilent, Hologic, and Johnson & Johnson. His proven track record and strong communication skills are expected to be instrumental in addressing the current challenges facing West Pharmaceutical Services.
Furthermore, Larew believes that the current headwinds, such as tariffs and contract roll-offs, are temporary and that McMahon’s leadership will help navigate these issues effectively. The market’s positive perception of McMahon, coupled with his ability to drive a turnaround, supports the optimistic outlook for the company’s performance in the latter half of the year. Therefore, Larew rates the stock as Outperform, indicating confidence in its future growth potential.
According to TipRanks, Larew is an analyst with an average return of -6.3% and a 39.62% success rate. Larew covers the Healthcare sector, focusing on stocks such as 908 Devices, Maravai Lifesciences Holdings, and Amedisys.
In another report released on July 18, Bank of America Securities also reiterated a Buy rating on the stock with a $280.00 price target.