Evotec SE
EVT: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€3.70 | Lclv | Kvgmgysh |
Evotec: Management Lowers 2024 Guidance Amid Slower Growth and Higher Costs; Reducing FVE to EUR 8.5
No-moat Evotec has revised its 2024 guidance following a challenging first half, which saw slower revenue growth in its shared research and development segment. Consequently, the company has lowered its revenue forecast to between EUR 790 million-EUR 820 million, reflecting a low- to mid-single-digit percentage increase compared with the previous projection of low-double-digit growth. We've updated our model to incorporate the new guidance, and we have decreased our fair value estimate to EUR 8.50 per share from EUR 14.