KeyBanc Starts Catalent (CTLT) at Overweight
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KeyBanc initiated coverage on Catalent (NYSE: CTLT) with a Overweight rating and a price target of $29. Analyst Matthew Mishan said he expects investors sentiment to improve.
"Despite some uneven results post IPO, we believe underlying fundamentals are positive and investor sentiment will likely improve through FY17. More specifically: 1) it is differentiated by its scale and expertise in advanced delivery technologies; 2) with Beinheim recovering and Blackstone exiting its final stake, key overhangs are lifting and it could meet/exceed conservative FY17 guidance; 3) there are multiple drivers of LT revenue growth; 4) EBITDA margin appears sustainable LT; and 5) M&A pace and size potentially accelerate," said the analyst.
Shares of Catalent closed at $24.00 yesterday.
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