Bernstein, a joint venture of Société Générale and AllianceBernstein, increased its price target for Swiss pharmaceutical supplier Siegfried to a minimum of CHF 140, up from CHF 126. The new target implies a near‑doubling of the stock, which was trading at CHF 73 on Monday, up about 3%.
The analyst kept the recommendation at Outperform but highlighted the company's recent acquisition of three active‑pharmaceutical‑ingredient sites in the United States and Australia, announced in January. The sites in Wilmington, Athens and Westbury add roughly 400 jobs and are intended to broaden Siegfried’s small‑molecule production network in the U.S.
CEO Marcel Imwinkelried said in late August that the newly acquired U.S. capacity, purchased in early May, is developing well and attracting strong interest from major pharma customers. While the analyst noted that the acquisition has not yet moved the share price, a discussion with the CFO led him to conclude that the transaction strengthens Siegfried’s market position in a sector characterized by high entry barriers and steady long‑term demand.
Accordingly, the analyst raised the company’s revenue outlook for 2026‑2031 by 6‑11% and its EBITDA forecast for the same period by 5‑10%, reaffirming the "quality growth" label for the stock.
