Emergent BioSolutions (EBS) PT Raised to $130 at Cantor Fitzgerald Following EPS
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Cantor Fitzgerald analyst Brandon Folkes raised the price target on Emergent BioSolutions (NYSE: EBS) to $130.00 (from $110.00) while maintaining an Overweight rating.
The analyst commented, "Post 4Q20, we reiterate our Overweight rating and raise our 12-month price target to $130, from $110. EBS continues to be the leader in the public health-threat medical countermeasures field, which we believe has come under renewed interest post the outbreak of COVID-19.
Our price target increase is driven by increasing visibility around the company's CDMO business. It looks increasingly likely that COVID vaccinations may be an annual occurrence, but even if they are not, we believe EBS's partner JNJ's (OW, covered by Louise Chen) vaccine has perfect characteristics to potentially make the product the most desirable vaccine in countries which have a less sophisticated supply chain than the U.S. Further, we believe the value of EBS's COVID-HIG is not reflected at all in the stock, and could provide additional upside in the coming months."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesCantor Fitzgerald, Louise Chen
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