TD Cowen downgraded Avantor (AVTR) to Hold from Buy with a price target of $15.50, down from $20. The firm says the outlook for several areas critical to its thesis worsened in Q1 following the bioprocess shortfall and guide down. The reduced outlook “likely wasn’t cut enough,” the analyst tells investors in a research note. TD sees limited multiple expansion going forward given Avantor’s lowered growth and margins.
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Read More on AVTR:
- Avantor’s Hold Rating: Navigating Revenue Misses, Bioprocess Challenges, and Leadership Uncertainty
- Avantor’s Performance Challenges and Uncertain Outlook Lead to Hold Rating
- Avantor downgraded to Equal Weight from Overweight at Morgan Stanley
- Avantor downgraded to Hold from Buy at Stifel
- Avantor Reports Q1 2025 Earnings and Strategic Initiatives