Jefferies Downgrades Evotec (EVO) to Hold

Jefferies analyst Benjamin Jackson downgraded Evotec (NASDAQ: EVO) from Buy to Hold with a price target of $3.80 (from $8.70).

The analyst comments: "We expect Evotec's strategic reset to take time, with lingering uncertainty over when the market will recover. Lack of clarity over business trajectory 2025+, plus risk of further delays to the strategy update, could amplify concerns further. Visible near-term catalysts for investors to attribute meaningful value to partnered assets are also scarce. Longer-term, potential Sandoz S.POD opt-in '25E and the value of 140+ partnered assets remain largely ignored."

For an analyst ratings summary and ratings history on Evotec click here. For more ratings news on Evotec click here.

Shares of Evotec closed at $3.43 yesterday.

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