Organon & Co. (OGN) PT Raised to $24 at Piper Sandler

Piper Sandler analyst David Amsellem raised the price target on Organon & Co. (NYSE: OGN) to $24.00 (from $22.00) while maintaining a Overweight rating.

The analyst commented, "Our price target of $24 (up from $22) is based on an EV/EBITDA multiple of 7x (unchanged) our 2024E EBITDA estimate of $2,020M (from $2,064M previously). We are no longer using a discount period for our PT calculation as it is based on 2024 EBITDA (that is the key driver of our revised PT). "

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