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Investing.com -- Deutsche Bank raised its rating on Bachem Holding AG (SIX:BANB) to “buy” from “hold,” after the company reported progress on its key expansion project, Building K. The price target was lifted from CHF65 to CHF75, while shares last closed at CHF57.35.
Analyst Fynn Scherzler said Bachem shared that a recent site inspection by local authorities at its new large-scale facility, Building K, is expected to conclude without further delays to its production ramp-up. The development marks a significant step forward for the company’s expansion efforts.
Building K remains central to Bachem’s growth plan, designed to support an increase in sales from below CHF700 million in 2025 to more than CHF1 billion in 2026. The majority of that growth is projected to come from GLP-1-related revenue.
Deutsche Bank noted that the update effectively removes two of the three remaining major challenges to Bachem’s mid-term targets, prompting the upgrade.