Deutsche Bank upgraded Evotec (EVO) to Hold from Sell with a price target of EUR 7, up from EUR 4. The company provided new guidance for 2025 and the medium term, “offering much-needed direction,” the analyst tells investors in a research note. The firm says the guidance appears achievable. Although the projected adjusted EBITDA level is “disappointing and should lead to significant consensus earnings cuts, it should provide a reasonable floor” for the shares, contends Deutsche Bank.
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