Evotec AG Coverage Initiated by Analysts at Stifel Nicolaus (EVTC)
Equities researchers at Stifel Nicolaus began coverage on shares of Evotec AG (NASDAQ:EVTC) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $27.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 10.84% from the stock’s previous close.
The analysts wrote, “While the Puerto Rican economy remains a concern, we see more potential upside as EVTC has maintained at least 5% revenue growth in PR throughout the 7-year recession due to the strong (and growing) tailwind from cash/check conversion to electronic payments.” -”More importantly, with a steadily growing, high FCF base in PR, we see EVTC as uniquely positioned to expand in faster-growing, secondary LatAm markets where EVTC’s scale and cutting edge mobile technology drive electronic payments adoption.” -”We also like the company’s strategy of targeting second-tier markets to avoid to intense competition in larger markets like Brazil and Mexico.” -”With the stock trading at a material discount to the group (12.4x 2015E adjusted EPS vs. 15.7x), we believe this gap will close as EVTC executes on its growth strategy and disintermediation pressure continues to weigh on domestic acquirers.”
In other Evotec AG news, Director Popular Inc sold 5,800,000 shares of Evotec AG stock on the open market in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.33, for a total transaction of $117,914,000.00. Following the completion of the sale, the director now directly owns 11,654,803 shares of the company’s stock, valued at approximately $236,942,145. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Evotec AG (NASDAQ:EVTC) opened at 24.36 on Tuesday. Evotec AG has a one year low of $19.11 and a one year high of $25.67. The stock has a 50-day moving average of $22.34 and a 200-day moving average of $22.94. The company has a market cap of $1.997 billion and a P/E ratio of 65.13.
Evotec AG (NASDAQ:EVTC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.36 EPS for the quarter. The company had revenue of $87.40 million for the quarter, compared to the consensus estimate of $83.80 million.
Evotec AG is a Germany-based parent company of the Evotec group, which is engaged in drug discovery and development company focused on providing integrated drug discovery services and alliances to the pharmaceutical and biotechnology industry.
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