Catalent price target raised to $58 from $55 at RBC Capital

RBC Capital raised the firm’s price target on Catalent (CTLT) to $58 from $55 and keeps an Outperform rating on the shares ahead of its Q2 results next week. The recent investor conversations have centered on expected contributions from Sarepta Therapeutics (SRPT) and GLP-1s in FY25 and beyond given their importance to both longer-range earnings and the activist/M&A angle, though its unlikely that there will be meaningful updates on either, the analyst tells investors in a research note. Investor focus will likely be on FY24 EBITDA progression vs. guidance and the extent to which Catalent management is continuing to “control the controllables”, the firm added.