Maravai Lifesciences price target lowered to $8 from $9 at BofA

BofA lowered the firm’s price target on Maravai Lifesciences (MRVI) to $8 from $9 and keeps a Buy rating on the shares after the company announced the delay of its earnings release and call that had been scheduled for February 25 and said it intends to file FY24 Form 10-K as soon as practical and before the March 18 deadline. While the update and the delay due to accounting logistics are “not ideal,” the firm was “encouraged by the reaffirmed guide,” though it lowers its price target due to peer group compression, the analyst tells investors.