Avantor price target lowered to $20 from $24 at RBC Capital

RBC Capital lowered the firm’s price target on Avantor (AVTR) to $20 from $24 and keeps an Outperform rating on the shares. The stock sold off about 20% after Q1 results, and the firm remains cautious on the near-term setup for the sector, the analyst tells investors in a research note. For Avantor, the quarter included a slowdown in purchasing from certain academic customers, lower demand from a continued decline in biotech funding, and weaker China demand, RBC adds.