Maravai Lifesciences price target lowered to $10 from $11 at Stifel

Stifel analyst Daniel Arias lowered the firm’s price target on Maravai Lifesciences to $10 from $11 and keeps a Buy rating on the shares. While stating that Maravai posted an above-consensus quarter “for the first time in a while,” and adding that “there appears to be confidence in the outlook for the year ahead that has obviously been lacking up until now,” the analyst notes that a growing pipeline in mRNA-based therapeutics are at an early stage and may take some time to play out.