UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on West Pharmaceutical Services

In a report published Monday, Jefferies & Company reiterated its Hold rating on West Pharmaceutical Services WST, and raised its price target from $45.00 to $49.00. Jefferies noted, “WST continues to see progress in shifting customers to high value (and higher margin) packaging products. The company has also benefited from accelerated demand from clients, who are building inventory and launching new products. We expected that to moderate sooner than now, but still expect it to diminish in the future. We are raising EPS based on the recent performance, while maintaining future growth rates.” West Pharmaceutical Services closed on Friday at $52.66.