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Fly News Breaks for May 15, 2017
CTLT, TMO, PTHN
May 15, 2017 | 14:07 EDT
Piper Jaffray analyst Sean Wieland downgraded Patheon (PTHN) to Neutral from Overweight and raised his price target to $35 from $33 to reflect the company's agreement to be acquired by Thermo Fisher (TMO). In his downgrade note, Wieland added that Catalent (CTLT) is comparable to Patheon and would trade at $36 if the same valuation as used in Thermo Fisher's deal is applied.