Avantor price target lowered to $26 from $28 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Avantor (AVTR) to $26 from $28 and keeps a Buy rating on the shares after its Q3 results and affirmed guidance. The firm notes that it was “pleased” with the strong free cash flow generation in the quarter and the gradual improvement in bioprocessing and equipment & instrumentation revenue which exceeded its expectations coming into the quarter, and while the management is not providing guidance on 2025, Goldman is assuming a continuation of a slow and steady improvement throughout the FY2, the analyst tells investors in a research note.