TD Cowen upgraded Avantor to Outperform from Market Perform with a price target of $28, up from $21. Several items from Friday’s Investor Day event make the firm more bullish, including a material cost cut program that creates margin upside, a new operating structure that improves transparency and supports growth, and comments reflecting revenues are close to inflecting, the analyst says. In addition, TD Cowen says Avantor’s business mix is ideal for the current choppy environment.
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Read More on AVTR:
- Avantor® Hosts Investor Day, Announces New Strategic Operating Model to Drive Growth and Productivity
- Avantor price target lowered to $20 from $22 at Deutsche Bank
- Avantor price target lowered to $21 from $23 at TD Cowen
- Avantor price target lowered to $21 from $25 at Barclays
- Avantor price target lowered to $22 from $24 at BofA
