Evotec AG’s “Equal Weight” Rating Reaffirmed at Morgan Stanley (EVTC)
Evotec AG (NASDAQ:EVTC)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Thursday, AnalystRatings.NET reports. They currently have a $24.00 price target on the stock, down from their previous price target of $26.00. Morgan Stanley’s price target would suggest a potential upside of 0.54% from the stock’s previous close.
The analysts wrote, “Puerto Rico macro headwinds still manageable, but delays in international expansion leads to lowered 2014 guidance. Despite continued contraction in the Puerto Rican economy, EVTC continued to experience positive transaction growth due to the continued secular shift of cash to cards. But growth outside of PR continues to be impacted by business delays. EVTC expected to receive a merchant acquiring license from Visa in Colombia by YE13, which is now expected in 2Q14. Mgmt also noted delays in closing two sizable JV deals in LatAm that are not included in 2014 guidance.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Thomson Reuters/Verus initiated coverage on shares of Evotec AG in a research note on Monday, February 3rd. They set a “hold” rating on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Evotec AG in a research note on Tuesday, December 24th. They set a “buy” rating and a $27.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $26.50.
Shares of Evotec AG (NASDAQ:EVTC) opened at 24.07 on Thursday. Evotec AG has a one year low of $19.11 and a one year high of $26.33. The stock’s 50-day moving average is $24.71 and its 200-day moving average is $23.46. The company has a market cap of $1.973 billion and a P/E ratio of 64.09.
Evotec AG (NASDAQ:EVTC) last announced its earnings results on Wednesday, February 12th. The company reported $0.43 earnings per share for the quarter. The company had revenue of $93.30 million for the quarter, compared to the consensus estimate of $91.00 million.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.