The Fly

West Pharmaceutical initiated with a Neutral at UBS

UBS analyst John Sourbeer initiated coverage of West Pharmaceutical with a Neutral rating and $250 price target. In the near-term, the stock looks "fairly valued", the analyst tells investors in a research note, adding that he will look for clarity on 2023 guidance and the capacity constraints highlighted with its Q3 earnings. Sourbeer notes however that over the long term, West Pharmaceutical can grow at an 8.7% CAGR, supported by his proprietary biologics industry analysis across the R&D pipeline and give the company’s market leadership in drug containment and delivery systems.

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