EMBC Similar Chart Price Prediction
The price of EMBC is predicted to go up -10.11%, based on the high correlation periods with CAKE. The similarity of these two price pattern on the periods is 94.68%.
EMBC
CAKE
Down: -10.11%Similarity: 94.68%
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EMBC Analyst's Forecast
Marie Thibault
BTIG
Hold → Strong Buy
Price Target
$26
Upside
+26.27%
BTIG upgraded Embecta to Buy from Neutral with a $26 price target. Shares gained about 30% in Tuesday trading as investors rewarded management's decision to discontinue the patch pump program, notes the analyst, who is also "pleased with the decision from a financial perspective." The rebound in adjusted EBIT margin as a result of a steep cut in R&D spending will unlock significant free cash flow for Embecta to repay debt and reduce its net leverage ratio, the analyst tells investors. When combined with fewer separation-related expenses, the firm thinks Embecta may eventually be able to pursue more opportunistic M&A, the analyst added.