Wolfe Research initiated coverage of Maravai Lifesciences (MRVI) with a Peer Perform rating and no price target Bioprocessing tools is currently a $20B market that should return to high-single-digit or low-double-digit growth through 2030, the analyst tells investors in a research note. The firm says that while Maravai has best-in-class solutions in mRNA capping, it remains concerned about the outlook for an mRNA rebound. Wolfe’s sum-of-the-parts valuation construct indicates shares are currently fairly valued, although downside risk seems low.
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