Avantor downgraded to Neutral from Buy at UBS

UBS analyst Dan Leonard downgraded Avantor (AVTR) to Neutral from Buy with a price target of $25, down from $29. The firm says near-term market weakness and channel share risks could depress Avantor’s sales growth below industry peers. Broader considerations, like higher interest rates, higher target valuations, and a high relative debt burden, could complicate the company’s efforts to structurally accelerate sales growth, the analyst tells investors in a research note. UBS sees no see clear pathway for Avantor to accelerate sales.