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Investing.com - RBC Capital upgraded Sartorius Stedim (EPA:STDM) Biotech (EPA:DIM) (OTC:SDMHF) stock rating from Sector Perform to Outperform on Wednesday, while adjusting its price target to EUR230.00 from EUR240.00.
The upgrade comes after a period of underperformance for the biotech company’s shares over the past two months, which RBC Capital believes has created a favorable risk-reward profile with upside potential.
RBC Capital noted that yesterday’s negative share reaction to what it described as "in-line results" contributed to its more positive outlook on the stock.
The firm made slight adjustments to its estimates for Sartorius Stedim Biotech, resulting in the minor reduction of its price target despite the rating upgrade.
RBC Capital also upgraded Sartorius AG (ETR:SATG), the parent company of Sartorius Stedim Biotech, to Outperform from Sector Perform as part of the same research note.
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