West Pharmaceutical initiated with a Hold at Deutsche Bank

Deutsche Bank analyst Justin Bowers initiated coverage of West Pharmaceutical with a Hold rating and $250 price target. The analyst launched coverage of 10 life science tools companies that have "outsized exposure" to the biopharma end market. The stocks that outperform in 2023 "will provide downside protection or are idiosyncratic," Bowers tells investors in a research note. He recommends "captains of culture" Danaher (DHR) and Thermo Fisher Scientific (TMO) for more defensive posturing. Buy-rated rated Maravai Lifesciences (MRVI), Bio-Techne (TECH) and 10X Genomics (TXG) offer novel technology and have embedded optionality, Bowers tells investors in a research note. His Hold-rated names reflect wanting better entry points andconviction in consensus estimates.