Catalent Analysts Raise Their Forecasts Following Acquisition News
Portfolio Pulse from Avi Kapoor
Catalent, Inc. (NYSE:CTLT) announced its acquisition by Novo Holdings for $63.50 per share in cash, leading to a 9.7% jump in its shares to close at $59.82. Following the news, analysts at UBS and RBC Capital raised their price targets on Catalent to $63.5, while downgrading the stock to Neutral and Sector Perform, respectively.
February 06, 2024 | 1:22 pm
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POSITIVE IMPACT
Catalent's acquisition by Novo Holdings at $63.50/share led to a 9.7% stock price increase and analyst rating changes.
The acquisition announcement by Novo Holdings has positively impacted Catalent's stock price, indicating strong market approval. The subsequent analyst upgrades in price targets, despite downgrades in stock ratings, reflect a consensus on the acquisition's value to Catalent. The short-term impact is likely positive due to the acquisition premium and market reaction.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100