Barclays lowered the firm’s price target on Alvotech (ALVO) to $4 from $5 and keeps an Underweight rating on the shares. While the firm remains bullish on the long-term outlook for biosimilars, Barclays expects Alvotech to remain in a holding pattern until clearing the U.S. approvals in Q4 2026. Further, with high leverage and continued R&D and Capex plans, the firm thinks financial flexibility bears watching.
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