Siegfried Holding Ltd’s shares fell 5.3% on Friday after UBS downgraded the Swiss drug services company to Neutral from Buy and slashed its price target to CHF 80 from CHF 120.
The stock opened at CHF 78.35 and touched a session low of CHF 73.60, extending declines from its 52-week high of CHF 101.60. At midday trading, Siegfried was down 4.24% at CHF 76, representing a decline of CHF 3.40.
UBS analyst Tanya Hansalik reduced her earnings-per-share estimates for 2026 through 2028 by about 7%, citing slower-than-anticipated ramp-up of new production capacity and weaker-than-expected revenue from the recently acquired U.S. business. RBC Capital also trimmed its price target on the shares.
The downgrade follows Siegfried’s first-half 2026 results, published on August 21, which showed a 4.8% rise in local-currency net sales for Drug Substances to CHF 431.1 million and a 1.5% increase in Drug Products net sales to CHF 201.9 million. Core EBITDA grew 6.0% to CHF 142 million, with the margin expanding to 22.4%. The company reaffirmed its full-year guidance, implying a second-half acceleration of 9-13%.
Analysts noted that Siegfried’s growth profile remains back-loaded, which limits near-term visibility and concentrates risk in the second half of the year. The broader market showed modest declines, with the S&P 500 down 0.1% and the Nasdaq falling 0.5%.
