RBC Capital raised the firm’s price target on Avantor to $31 from $30 and keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results for Life Science Tools & Diagnostics integrators. The company reaffirmed guidance for FY24 but many investors view the lack of a Q2 reaffirm as a negative just as the intra-quarter sentiment has gotten worse on the name, the analyst tells investors in a research note. With the stock down 15% since the start of the quarter however, Avantor offers the best risk / reward of the Integrators heading into the Q2 print, RBC adds.
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