We initiate coverage of Lonza with a NEUTRAL recommendation and a target price of CHF280. Lonza is a leading supplier of products and services to the biopharma and specialty ingredients industries with a strong focus on complex biologics. During the last five years, Lonza underwent a successful strategic transformation that coupled with favourable market dynamics drove 2012-2016 core EBITDA CAGR of 8.5% and margin expansion from 16.9% to 22.2%. We are optimistic about the acquisition of Capsugel ....
16 Oct 2017
Riding the biologics outsourcing wave
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Riding the biologics outsourcing wave
Lonza Group AG (0QNO:LON) | 0 0 0.0% | Mkt Cap: 22,735m
- Published:
16 Oct 2017 -
Author:
Brigitte de Lima, PHD CFA -
Pages:
39
We initiate coverage of Lonza with a NEUTRAL recommendation and a target price of CHF280. Lonza is a leading supplier of products and services to the biopharma and specialty ingredients industries with a strong focus on complex biologics. During the last five years, Lonza underwent a successful strategic transformation that coupled with favourable market dynamics drove 2012-2016 core EBITDA CAGR of 8.5% and margin expansion from 16.9% to 22.2%. We are optimistic about the acquisition of Capsugel ....