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Catalent price target raised to $78 from $60 at BofA
The Fly

Catalent price target raised to $78 from $60 at BofA

BofA analyst Derik de Bruin raised the firm’s price target on Catalent (CTLT) to $78 from $60 and keeps a Neutral rating on the shares after the company reported fiscal Q2 results roughly in-line with consensus and declined to address recent press reports on a potential acquisition by Danaher (DHR), "as expected." Without this M&A news report, Catalent shares "may have traded down on what was a largely underwhelming guidance update," said the firm, which added that it sees "some skepticism in the company’s targets." The firm thinks it is "prudent," however, to raise its price target and reiterate a Neutral rating until there is more visibility on either the core business trends or "the interest (or lack thereof) from potential buyers."

Published first on TheFly

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