Avantor price target raised to $27 from $24 at Barclays

Barclays raised the firm’s price target on Avantor to $27 from $24 and keeps an Overweight rating on the shares. The company reported a strong Q4 and conservative 2024 guidance that sets the business up for a “beat/raise opportunity” once the bioprocessing recovery kicks in, the analyst tells investors in a research note. The firm sees upside to margins coming from cost-outs.