Barclays analyst Luke Sergott initiated coverage of West Pharmaceutical (WST) with an Equal Weight rating and $245 price target The company has a strong market position in its core High-Value Products unit, but in recent quarters, it has been plagued by issues in much smaller, non-core businesses, notably SmartDose and continuous glucose monitoring manufacturing, the analyst tells investors in a research note. The firm says the biggest concern for the business is oral GLP-1s coming to market.
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