TD Cowen analyst Brendan Smith initiated coverage of West Pharmaceutical (WST) with a Buy rating and $350 price target West sits at the nexus of multiple, sector-wide trends – including injectable biologics, GLP-1s and expanding regulatory demand – that have helped the company evolve from a supplier of standard drug delivery components towards high-value products with higher gross margins, the analyst tells investors. The mix shift to higher value products should sustainably grow revenue and margins long term, the analyst contends.
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Read More on WST:
- West Pharmaceutical removed from ‘Tactical Outperform’ list at Evercore ISI
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- West Pharmaceutical price target raised to $355 from $320 at UBS
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