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Research Alert: CFRA Raises Rating On West Pharmaceutical Services, Inc. To Buy From Hold

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price is $350, up from $267 and represents 41x our 2026 EPS estimate (up $0.63 to $8.53; 2027's up $0.61 to $9.42), near WST's five-year forward average of 42x. Our valuation reflects our view of the strength of the High-Value Products (HVP) business, as well as a growing market for GLP-1 elastomer sales and significant balance sheet health (negative net debt). We anticipate new drug development will support the HVP business, as biologics made up around 42% of sales during Q1 2026. Further, GLP-1 drug demand may provide a new catalyst for sales of syringes. WST secured a multiyear contract with Novo Nordisk for all its GLP-1 primary packaging elastomer needs, and GLP-1 elastomers comprised 10% of Q1 2026 sales. Combined with sales in the West Vantage segment, GLP-1 exposure made up 18% of total net sales during the quarter. The Annex 1 regulatory updates for medical manufacturing also provide tailwinds for HVP via quality upgrade projects for existing WST components, in our view.

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