Catalent price target raised to $46 from $39 at BofA

BofA raised the firm’s price target on Catalent to $46 from $39 and keeps an Underperform rating on the shares after the company reported “largely in-line” fiscal Q4 results and gave initial FY24 guidance that the firm says “looks aggressive given recent issues.” The firm, which raised its FY24-25 sales forecasts but lower its adjusted EBITDA and EPS estimates, adds that the company’s agreement with activist investor Elliot Management “brings needed expertise.”