Avantor (AVTR – Research Report), the Basic Materials sector company, was revisited by a Wall Street analyst on May 22. Analyst Brandon Couillard from Wells Fargo maintained a Buy rating on the stock and has a $19.00 price target.
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Brandon Couillard has given his Buy rating due to a combination of factors that suggest a promising outlook for Avantor. One significant aspect is the potential for leadership changes, with Corey Walker being considered for the CEO position. His previous experience and industry knowledge could bring strategic advantages to the company.
Additionally, the company’s bioprocess portfolio, particularly the Environmental Control Consumables, represents a substantial part of their business, accounting for around 30% of the mix. Despite recent growth challenges in this segment, the disclosure of its size indicates untapped potential that could drive future growth. These elements, combined with the broader interest in life science assets, underpin Couillard’s optimistic view of Avantor’s stock.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVTR in relation to earlier this year.