Avantor price target lowered to $12 from $14 at Stifel

Stifel lowered the firm’s price target on Avantor (AVTR) to $12 from $14 and keeps a Hold rating on the shares after the company missed this quarter and lowered the organic growth and margin outlook along with EPS guidance. A new CEO offers the potential for Avantor to be “a turn-around story next year,” but the firm sees “too many variables and too many other high-quality Tools names trading at discounted multiples to favor this one right now,” the analyst tells investors.