HAMBURG (dpa-AFX) - Following the resignation of the CEO and the confirmation of the annual outlook, the analyst firm Warburg Research has left Evotec at "Buy" with a target price of 29 euros. The surprising departure of Werner Lanthaler and the resulting uncertainty are likely to be negatively received by the market, analyst Christian Ehmann wrote in a study published on Thursday. However, the drug discovery company has diversified the responsibilities on the Management Board in order to dispel concerns about excessive dependence on the long-time company leader. Lanthaler's interim successor Mario Polywka has also been with Evotec for a long time and a permanent CEO is likely to be found within nine months. In addition, Evotec is well positioned operationally./gl/ck

Publication of the original study: 04.01.2024 / 08:15 / CET

First disclosure of the original study: Date not specified in study / Time not specified in study / CET

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