Morgan Stanley on Thursday initiated Euroapi's shares with a 'weight in line' recommendation and a price target of 13 euros, preferring to wait for the 'wind to shift' around the stock.

'As a new entrant to the pharmaceutical outsourcing market (CDMO), and with an already well-established footprint, Euroapi is in an ideal position to win market share', the analyst believes in a note.

Instead, a succession of earnings warnings and weaker-than-expected publications have dampened investor enthusiasm', he argues.

In such conditions, the intermediary prefers to wait for better visibility before being more positive on the stock.

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