Jefferies analyst David Windley upgraded Inotiv to Buy from Hold with a price target of $11.50, up from $3. The company had “surprisingly strong” December quarter bookings and with a lowered cost structure and more integrated services, its fortified sales force is selling more aggressively, while at least maintaining margin, the analyst tells investors in a research note. The firm says that if Inotiv can grow sales even modestly, the cost initiatives grow EBITDA in fiscal 2024 and 2025.
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