Avantor Inc. (AVTR) PT Raised to $27 at Baird

Baird analyst Catherine Schulte raised the price target on Avantor Inc. (NYSE: AVTR) to $27.00 (from $26.00) while maintaining a Outperform rating.

The analyst comments "Maintain Outperform rating, new $27 price target (+$1). AVTR reported 2Q revenue in line with Street, while adjusted EBITDA margins came in ahead of guidance/expectations. AVTR noted encouraging bioprocessing trends, including sales up ~high-single-digits QQ and orders up YY, and expects the business to exit 2024 growing ~mid- to high-single-digits. Management also reiterated expectations its target of exiting 2025 at 20%+ adjusted EBITDA margins. We remain constructive on the stock from a near-term perspective given AVTR's relative exposures/valuation vs. peers."

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