Morgan Stanley analyst Tejas Savant assumed coverage of Stevanato Group (STVN) with an Equal Weight rating and a price target of $23, down from $24. Stevanato, with “market leading positions” in the biopharmaceutical injectables end market, is well-positioned to benefit in terms of both top-line and margins from a structural mix shift towards biologics and growth in GLP-1s, but vial destocking headwinds, cost under-absorption related to necessary capacity buildouts and optimization expenses are likely to gate estimate upside in the near-term, the analyst tells investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
