11:55 AM EDT, 04/25/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain a 12-month target price of $375, based on a 2025 P/E of 40.8x, a discount to WST's five-year forward average P/E of 47.0x. We maintain our adjusted EPS estimates of $7.65 for 2024 and $9.20 for 2025. WST posted Q1 EPS of $1.56 vs. $1.98 (-21%), well ahead of the $1.29 consensus. The beat was driven by stronger-than-forecasted sales and margins, as revenue fell 3% to $695M ($20M ahead of consensus) and gross margin contracted 480 bps to 33.1% (110 bps ahead of consensus). WST maintained 2024 revenue guidance of $3.000B-$3.025B, but raised adjusted EPS guidance to $7.63-$7.88 from $7.50-$7.75; the current consensus forecasts are $3.01B and $7.62, respectively. The company reiterated its expectation for stronger organic sales growth in the second half of the year, but we continue to believe caution is warranted, with the stock's valuation appearing fair and near-term comps likely to remain difficult. We maintain a Hold opinion on WST shares, seeing better opportunities across the space.