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Investing.com - Stifel upgraded Sartorius AG (SRT3:GR) (OTC:SARTF) from Hold to Buy on Friday, setting a price target of EUR230.00 as the bioprocessing company’s stock reaches attractive valuation levels.
The upgrade follows Sartorius’s second-quarter performance that aligned with expectations, including some anticipated sequential weakening in order intake. Stifel noted that recent weak stock performance stemmed from high valuation and limited long-only investor exposure following last year’s destocking period volatility.
Stifel believes the stock has "fundamentally adequately derisked" and now presents an attractive opportunity on a multi-year view. The firm cited several factors supporting the upgrade, including both absolute and relative valuation metrics and "broadly rebased numbers."
The research firm also highlighted Sartorius’s "strong business model" as a key factor in the upgrade decision. Bioprocessing remains the majority of Sartorius’s appeal, accounting for approximately 80% of the company’s business according to Stifel’s analysis.
Stifel added that the appointment of a new CEO caps off "a period of heightened volatility in Bioprocessing" for the company, contributing to the more positive outlook reflected in the rating change.
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