Deutsche Bank upgraded Evotec to Buy from Hold with a price target of EUR 19, down from EUR 20. The disappointment around the departure of the CEO “seems to have levelled off,” and the investment case is attractive again after the steep share price decline over the last few months, the analyst tells investors in a research note. The firm sees 40% upside in the shares, saying Evotec should post strong earnings growth in 2024.
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