Avantor downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Avantor to Market Perform from Outperform without a price target. The company reported Q2 results that came in below expectations and reduced guidance for the second time this year, the analyst tells investors in a research note. The firm says its industry work at bioprocessing conferences over the last several months highlights a challenging competitive environment for the company, particularly in fluid management.