Avantor price target lowered to $25 from $28 at Barclays

Barclays lowered the firm’s price target on Avantor (AVTR) to $25 from $28 and keeps an Overweight rating on the shares. Semis softness is tainting an otherwise “solid” topline print, while EBITDA margin miss remains the key focus and brings into question the ability to exit 2025 at 20% EBITDA margin, the analyst tells investors in a research note. The firm believes the company will “get close” to that figure, but will require some help from mix and further cost-outs to get there. Barclays added that it trimmed its price target as it resets its growth down to 3% given the Semis dynamic and 2025 margins.