Berenberg cuts PolyPeptide as tender offer, share gains limit upside
BUZZ-Berenberg cuts PolyPeptide as tender offer, share gains limit upside ** Berenberg downgrades Swiss peptide manufacturer PolyPeptide PPGN.S to "hold" from "buy" as recent stock gains and an ongoing tender offer leave "little room for upside"
** The broker notes Samsung Biologics' 207940.KS offer to acquire all publicly held shares could accelerate the company's expansion but reduces the potential for near-term rerating
** Despite the downgrade, Berenberg remains confident in PolyPeptide's turnaround following strong H1 sales driven by demand for metabolic therapeutics
** It expects higher asset utilisation, efficiency gains and operating leverage to support long-term growth outlook
** Out of 7 analysts that cover PolyPeptide Group AG, three rate the stock "strong buy" or "buy," two rate "hold" and two rate "strong sell" or "sell" - SEG data
(Reporting by Orest Dovhan)
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