Sartorius Stedim Biotech is down by almost 2% and underperforming the trend in Paris, after UBS reiterated its 'neutral' stance on the stock of the supplier of products and services to the pharmaceutical industry, with a price target reduced from €276 to €232.

After a first-quarter publication deemed disappointing, the broker expects 'investors to remain cautious until there are consistent signs of recovery and a clear path towards targets for fiscal 2024'.

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