Evotec AG: Strategic Sale and AI/ML Expansion Drive Buy Rating Amidst Growth Uncertainties
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Brendan Smith has issued a Buy rating for Evotec AG, citing the strategic sale of its JEB manufacturing facility to Sandoz, expected to generate around €650 million. This non-dilutive capital is vital for the company's financial stability amid macroeconomic challenges. While the sale raises concerns about the JEB segment's long-term growth, Evotec's expansion into AI/ML presents medium-term growth potential. Despite Q3 revenue misses due to slowed contract activity, early recovery signs in some segments may bolster future growth.
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