Report
Oliver Metzger ...
  • Stephan Wulf

Siegfried Holding AG : Broadening of business portfolio should reduce valuation discount

We are initiating coverage of Siegfried with a target price of CHF 1,188 and an Outperform rating. As one of the leading contract development and manufacturing organisations (CDMOs), Siegfried is predestined to benefit from the sustainable drivers of the pharma industry. We expect average sales growth of 9.1% p.a. and EBITDA margin expansion of 280bp to 24.8% out to 2028. Additionally, Siegfried’s solid financials enable it to further improve its competitive position through orga...
Underlying
Siegfried Holding AG

Siegfried Holding is a worldwide pharmaceutical supplier with production sites in Switzerland, Malta, and in the United States. Co. develops manufacturing processes for active pharmaceutical ingredients and their intermediates and manufactures these (Drug Substances). Co. also produces finished pharmaceutical products (Drug Products).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Oliver Metzger

Stephan Wulf

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