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Investing.com - Jefferies has initiated coverage on Bachem Holding AG (SIX:BANB) with an Underperform rating and a price target of CHF49.30.
The research firm characterized Bachem as a large-scale peptide contract development and manufacturing organization (CDMO) that relies heavily on market-dominant commercial products.
Jefferies expressed concern that Bachem’s potential may be limited in the longer term, noting that the company’s commitment to large-scale reactors and blockbuster products restricts its opportunities in what is described as a fragmented market.
The analysis also highlighted that this strategy brings execution uncertainty for the Swiss pharmaceutical supplier.
According to Jefferies, "the format of the next wave of expansion is the primary debate around the name," suggesting that how Bachem approaches its future growth remains a key consideration in the firm’s bearish outlook.
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