Citi opens ‘negative catalyst watch’ on Avantor into earnings

Citi analyst Patrick Donnelly launched a “90-day negative catalyst watch” on Avantor heading into the Q2 earnings. The firm sees further downside risk to the company’s fiscal 2023 guidance citing the currently implied bioproduction growth guidance ramp for the remainder of the year and subsequent readthrough from industry peers on various headwinds including inventory destocking impacting both laboratory consumables and consumables within bioproduction.