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DBS: West Pharmaceutical Services Inc -Buy Target Price US$449.00

Posted on August 1, 2022August 1, 2022 By alanyeo No Comments on DBS: West Pharmaceutical Services Inc -Buy Target Price US$449.00
Burgeoning biologics market drives demand for packaging
  • Leading global elastomer maker with estimated market share of around 23% 
  • Elastomers are essential components to package biologics e.g. vial stoppers, syringe plungers 
  • No. of biologics approved in the US surged by 70% in 2017-21 vs 2012-16, translating into higher demand for biologic packaging 
  • Trading at FY22F PE of 38x which is 24% below its precovid high, with potential US regulatory changes as a catalyst, we initiate with BUY, TP US$449
West-Pharmaceutical-Services_29-Jul-2022_HK_CG-InitiateClick here to Download Full Report in PDF

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Research - Equities Tags:West Pharmaceutical Services Inc

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