Stevanato Group price target lowered to $28 from $30 at Citi

Citi analyst Patrick Donnelly lowered the firm’s price target on Stevanato Group to $28 from $30 and keeps a Buy rating on the shares post the Q2 report. Management further discussed vial destocking headwinds with expectations for improvement later this year and into early 2025 as well as the higher than anticipated costs in Engineering that led to the fiscal 2024 guidance reduction, the analyst tells investors in a research note.