UPDATE: Jefferies Upgrades Catalent (CTLT) to Buy

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(Updated - June 21, 2019 7:30 AM EDT)

(updated to add analyst comments)

Jefferies analyst David Windley upgraded Catalent (NYSE: CTLT) from Hold to Buy with a price target of $62.00 (from $50.00).

The analyst commented, "CTLT’s profile has been shifting to high-value, higher growth biologics, with the Paragon deal adding an exclamation point. Further, recent headwinds for the more mature businesses are abating. We are higher than consensus on revenue and EBITDA, and further, believe as CTLT's mix evolves toward 50% biologics, it commands a higher multiple (currently 12.3x, our target ~16x)...either freestanding or to a strategic partner."

For an analyst ratings summary and ratings history on Catalent click here. For more ratings news on Catalent click here.

Shares of Catalent closed at $50.28 yesterday.

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