Morgan Stanley lowered the firm’s price target on Maravai Lifesciences (MRVI) to $7 from $10 and keeps an Equal Weight rating on the shares following another miss and significant guidance cut. The firm said on Friday that the outlook reflects lower Q4 on pushouts, macro softness in NAP and early-stage exposure in BST, with impaired visibility showing no signs of improvement just yet, even as fixed cost structure continues to pressure margins.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRVI:
- Nvidia trades on Dow for first time, Rivian reports downbeat Q3: Morning Buzz
- Maravai Lifesciences price target lowered to $13 from $17 at RBC Capital
- Maravai Lifesciences price target lowered to $9 from $10 at Baird
- Maravai downgraded to Market Perform from Outperform at William Blair
- Maravai LifeSciences Reports Q3 Earnings and Strategic Acquisition