Catalent price target raised to $42 from $35 at Barclays

Barclays raised the firm’s price target on Catalent to $42 from $35 and keeps an Equal Weight rating on the shares after its Q3 results and outlook. The analyst cites the company’s risk-clearing on not having to restate historicals meaningfully as there was quite a bit of fear around historical restatements and setting a lower EBITDA base to work off when contemplating FY24 and FY25. The firm adds that all of Catalent issues appear to be manageable and its numbers “do not change drastically”.