EBS - Emergent BioSolutions: Long-Term Thesis Remains Intact
- Emergent BioSolutions remains well insulated from peers, with key COVID-19 vaccine drivers and exposure to adjacent specialty markets in public crises prevention.
- Additional drivers in contract manufacturing continue to present for the company, which should contribute to revenue volumes in periods to come.
- We upgrade our valuation to ~$160, illustrating a value proposition that is heavily skewed to the upside.
- Our long-term thesis remains, and here, we update investors with all of the necessary pointers in the ongoing investment debate.
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Emergent BioSolutions: Long-Term Thesis Remains Intact