Barclays downgrades Polypeptide after strong H1 rally, Samsung offer
Barclays downgraded Polypeptide Group AG to “equal weight” from “overweight,” citing the stock’s strong year-to-date outperformance, which it said was well justified after the company delivered a high-single-digit percentage sales and underlying EBITDA beat alongside raised full-year guidance in the first half of 2026. The brokerage raised its price target to 44.31 Swiss francs per ...
Barclays has reduced Polypeptide Group AG's rating to "equal weight" from "overweight" due to the company's strong performance in the first half of 2026. The stock delivered a high-single-digit percentage sales and underlying EBITDA beat, along with raised full-year guidance. Barclays increased its price target to 44.31 Swiss francs per share, matching Samsung Biologics' all-cash offer price for Polypeptide shares.
The Western peptide contract development and manufacturing organization has surged 68.8% year-to-date, while the STOXX Europe 600 Health Care index has declined by 0.5%. Samsung Biologics offered to acquire Polypeptide at 44.31 francs per share, a 40% premium. The offer is secured by Draupnir Holding's commitment to tender its shares and unanimous board approval.
Barclays raised its 2026-2028 sales forecasts by 6.3%, 5.7%, and 5%, respectively, and EBITDA forecasts by 9.4%, 3.1%, and 4.7%. However, the bank lowered its earnings-per-share forecasts by 31%, 16%, and 22% due to higher interest costs.
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