Baird analyst Catherine Schulte lowered the firm’s price target on Avantor (AVTR) to $26 from $27 and keeps an Outperform rating on the shares. The firm said they reported 3Q revenue/adjusted EBITDA margins slightly below expectations, while EPS came in slightly ahead. The company saw outperformance from its bioprocessing business, and management reiterated expectations for mid- to high-single-digit bioprocessing growth in 4Q. Baird remains constructive on the stock here given its portfolio mix.
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