JPMorgan analyst Richard Vosser upgraded Recordati to Overweight from Neutral. The analyst continues to see a "bifurcation" in European pharma company outlooks in 2023, both in terms of pipeline readouts and longer-term where "genericisations again need to be navigated." As such, he would avoid companies like GSK and Roche, seeing downside to 2023 consensus estimates and "potentially challenged" 2025-2030 outlooks. Vosser continues to favor companies "which have sustainably higher growth" and "far more" pipeline data points, new launches to drive estimate upgrades.
Published first on TheFly
