Evotec AG: Strategic Sale and AI/ML Expansion Drive Buy Rating Amidst Growth Uncertainties5:38 PM Evotec SE (NASDAQ: EVO) Buy (1) ESG $5.00 EU JEB Sale Offers NT Boost, But LT Report THE TD COWEN INSIGHT Sandoz will purchase the entirety of the EU JEB business out of Toulouse (closing in Q4), netting EVO ~€650M over the next few yrs. However, light Q3 revs across D&PD and JEB raise questions about growth momentum given persistent macro challenges, though mgmt reaffirmed FY25 guide. Expanding AI/ML offerings could drive upside over medium term as interest is ramping up, but growth will take time.