Stifel adjusts ratings on European pharma; downgrades Sartorius, Siegfried ahead of H2

Sartorius AG

17/09/2024 10:29

** Stifel shares thoughts on European pharmaceutical
companies heading into H2; downgrades Sartorius  SATG.DE  and
Siegfried  SFZN.S  to "hold", citing concerns over growth
catalysts and valuation alignment with recent strong performance
    ** The analyst flags the German supplier of pharma and lab
equipment Sartorius' opaque growth drivers and an upcoming CEO
transition as reasons for caution, despite top-line growth in
line with peers
    ** Stifel says Siegfried reflects most of the Swiss
pharmaceutical company's recent premium performance, adds
"sources of surprise are already reflected in its valuation"
    ** The broker ups Merck  MRCG.DE  to "buy", following strong
results and a solid outlook towards end of the year; expects the
German company to be the first to show signs of recovery
post-destocking
    ** It says it continues to view Lonza  LONN.S  favourably,
with a "hold" rating, reflecting cautious optimism about Swiss
drugmaker's Vacaville's consolidation

 (Reporting by Elizaveta Gladun)
 ((elizaveta.gladun@thomsonreuters.com))