Catalent price target lowered to $49 from $78 at BofA

BofA analyst Derik de Bruin lowered the firm’s price target on Catalent (CTLT) to $49 from $78 and keeps a Neutral rating on the shares following the recent negative preannouncement and the "unexpected departure" of the company’s CFO. Further complicating the story are press reports that suggested that Danaher (DHR) was no longer currently evaluating an acquisition of the company, although other companies could be still interested. The firm lowered its 2023-25 sales, adjusted EBITDA and EPS forecasts to assume operational issues linger into FY24.