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Investing.com - Morgan Stanley initiated coverage on Blau Farmaceutica (BLAU3:BZ) with an Equalweight rating and a price target of R$15.50 on Wednesday.
The research firm notes that Blau focuses on generics and biosimilars, which have limited differentiation compared to patented drugs typically developed by multinational companies.
Morgan Stanley highlights that while Blau’s commoditized portfolio makes it more vulnerable to supply and demand pressures, the company operates in a favorable industry that generates cash and is positioned for growth due to population aging.
The firm also points out Blau’s advantages over domestic competitors, including its large scale and breadth of portfolio and customer base.
Morgan Stanley indicates there are likely few short-term catalysts for the stock, as the price and margin normalization that followed struggles in 2023 have largely materialized in 2024-25, leaving modest opportunity for near-term results improvement.
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