Catalent price target raised to $47 from $35 at Baird

Baird analyst Eric Coldwell raised the firm’s price target on Catalent to $47 from $35 and keeps a Neutral rating on the shares. The firm modestly increased FY24+ P&L and CF outlook on lower CapEx, driving higher price target but expect the shares to be largely range bound pending 2024 guidance at the next quarterly report.