Avantor price target lowered to $22 from $25 at Barclays

Barclays analyst Luke Sergott lowered the firm’s price target on Avantor to $22 from $25 and keeps an Overweight rating on the shares post the Q1 results. The company’s valuation discount to peers "looks too attractive despite the limited visibility and deteriorating market," the analyst tells investors in a research note. The firm sees Avantor’s margin guide as aggressive and fears a "value trap," but still believes in the underlying business and says the company’s issues are temporary and not necessarily structural.