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Lonza: UBS resumes coverage with 'buy' rating.

(CercleFinance.com) - UBS has resumed its coverage of Lonza shares with a "buy" rating, saying that the market is underestimating the long-term margin potential of the group which has been newly combined with Capsugel.


The brokerage firm has therefore increased its target price from 131 Swiss francs to 185 Swiss francs.

The broker says the pharma and biotech sectors have become a major growth and earnings driver for the drugs industry supplier.

"We believe double-digit growth rates, margin accretion from Capsugel, synergies, operating leverage and improving mix will translate into an Equity FCF potential of 1 billion Swiss francs by the end of the decade," it mentions in a report.

UBS hence sees re-rating potential for the shares.



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