Viatris initiated with a Buy at Truist

Truist initiated coverage of Viatris (VTRS) with a Buy rating and $15 price target While acknowledging that legacy Viatris concerns are “still prevalent across the franchise,” the firm sees “an affirmative change” in the direction of the company under a refreshed leadership team, supported by a market leading branded portfolio, a progressive generics foothold, and “a robust pipeline with blockbuster potential,” the analyst tells investors. Upside could come from an earlier than anticipated return to full operations at the Indore manufacturing facility and pipeline “overdelivery,” the analyst added.