Alvotech (Buy, TP: USD21.00) - Strong fiscal 2024–2025 guidance
Alvotech reported fiscal Q4 2023 earnings and hosted a CMD late last week. These were broadly in line with our expectations, but also rather a non-event given the late reporting and developments that have taken place in Q1 (approval of AVT02 in the US), and approval of AVT04 in the US, expected in April. Guidance for 2024 (and 2025) was stronger than we had expected. Overall, we reiterate our BUY and have raised our target price to USD21 (19).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.