12:45 PM EDT, 03/19/2024 (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 reduce our 12-month target price to $19 from $22, 4.1x our 2025 EPS estimate. We lower our 2024 EPS estimate by $0.30 to $4.21 and our 2025 EPS view by $0.05 to $4.59. While we continue to think that shares of Organon could be an attractive long-term investment, we think the core Established Brands portfolio (61% of total 2023 sales, -1% Y/Y) will continue to face near-term growth challenges in 2024 as we expect the segment's revenues to be down by nearly 2% Y/Y. This could offset stronger sales growth in Biosimilars (9% of 2023 sales) and Women's Health (27% of 2023 sales) and pressure top-line growth this year, in our view. While we think shares had a solid run since early December 2023, nearly up 64%, we see limited upside potential going forward. Thus, we change our recommendation on shares of Organon to Hold from Buy.