Jefferies Raises Price Target & Estimates on West Pharmaceutical (WST), Looks For CV Technology to be "The Money Maker"
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Price: $349.42 +0.94%
Rating Summary:
17 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies is maintaining its Hold rating on shares of West Pharmaceutical (NYSE: WST), but is raising its price target from $43 to $45 following market trends.
The firm reports that WST's Q1 earnings came in relatively even with its expectations and that the EPS miss was due to a larger share count than previously anticipated. The company's core business is facing rising input costs which will drive margins down in the short term, but looks to pass it on to its customers in the long run.
During WST's Q1 conference it announced that there has been high levels of sampling of its CZ technology which falls inline with the firms recent on the market.
Jefferies comments that, "The company also believes CZ is differentiated from the competition due to its combination with WST proprietary plungers and ability to stake the needle into place instead of gluing it. West believes these attributes give it a couple years lead in the marketplace. The negative commentary is that commercial revenue is not expected until late 2013."
Jefferies is also raising its FY11 and FY12 EPS estimates from $2.31 and $2.54 to $2.38 and $2.64.
For more ratings news on West Pharmaceutical click here and for the rating history of West Pharmaceutical click here.
Shares of West Pharmaceutical closed at $47.38 yesterday.
The firm reports that WST's Q1 earnings came in relatively even with its expectations and that the EPS miss was due to a larger share count than previously anticipated. The company's core business is facing rising input costs which will drive margins down in the short term, but looks to pass it on to its customers in the long run.
During WST's Q1 conference it announced that there has been high levels of sampling of its CZ technology which falls inline with the firms recent on the market.
Jefferies comments that, "The company also believes CZ is differentiated from the competition due to its combination with WST proprietary plungers and ability to stake the needle into place instead of gluing it. West believes these attributes give it a couple years lead in the marketplace. The negative commentary is that commercial revenue is not expected until late 2013."
Jefferies is also raising its FY11 and FY12 EPS estimates from $2.31 and $2.54 to $2.38 and $2.64.
For more ratings news on West Pharmaceutical click here and for the rating history of West Pharmaceutical click here.
Shares of West Pharmaceutical closed at $47.38 yesterday.
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