First Analysis analyst Steven Schwartz upgraded Catalent to Outperform while lowering his price target for the shares to $43 from $47. The analyst says that while management commentary following a “mixed” fiscal Q1 suggests more risk to near-term achievement of results, he remains confident in the company’s medium- and long-term prospects based on a positive view of contract development and manufacturing organization industry dynamics. He upgrades the shares on valuation following yesterday’s selloff.
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