Evotec upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst James Quigley upgraded Evotec to Overweight from Equal Weight with a price target of $16, up from $12. The analyst believes “strong” underlying execution and potential for new collaboration agreements could drive renewed investor interest in Evotec shares. In addition, the company is best placed in Europe to extract future value from the artificial intelligence revolution in drug development, the analyst tells investors in a research note.