NEW YORK (dpa-AFX) - The Canadian bank RBC has upgraded Evotec to "Outperform" with a price target of 18.60 euros after the results. In a study published on Wednesday, analyst Charles Weston particularly emphasized the more cautious outlook for the year with a broad range. Both the sales growth and the operating earnings growth of the Hamburg-based drug researcher and developer are likely to be significantly below consensus. In addition, the forecast for 2025 has not been repeated and will be reconsidered when the new CEO takes office in July. Meanwhile, Weston sees the announced cost-cutting program of EUR 40 million as positive./ck/ajx

Publication of the original study: 24.04.2024 / 01:47 / EDT

First publication of the original study: 24.04.2024 / 01:47 / EDT

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