Evotec SE

EVT: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€1.50	Prp	Qhqxqlgz

Evotec: Management Lowers 2024 Guidance Amid Slower Growth and Higher Costs; Reducing FVE to EUR 8.5

Rachel Elfman ,

Aug 9, 2024

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.

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