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Fly News Breaks for November 14, 2019
AVTR
Nov 14, 2019 | 16:46 EDT
Stifel analyst Daniel Arias initiated coverage of Avantor with a Hold rating and $14.90 price target. The analyst notes that the stock has underperformed this year, but he expects a more attractive recurring revenue mix in FY20 given the "uncertainty that exists with respect to the capital equipment outlook". Arias adds that Q3 trends were "a bit shaky", but he was impressed with the management's long-term margin expansion outlook.