Maravai LifeSciences Holdings shares are trading higher after the company reported better-than-expected Q1 financial results and reaffirmed FY24 revenue guidance. Also, Baird maintained an Outperform rating on the stock and raised its price target from $8 to $10.
Portfolio Pulse from Benzinga Newsdesk
Maravai LifeSciences Holdings' shares surged following the announcement of Q1 financial results that exceeded expectations and the reaffirmation of its FY24 revenue guidance. Additionally, Baird reaffirmed an Outperform rating on MRVI and increased the price target from $8 to $10.
May 09, 2024 | 5:15 pm
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Maravai LifeSciences Holdings reported strong Q1 financial results, surpassing expectations, and confirmed FY24 revenue outlook. Baird raised the price target for MRVI from $8 to $10 while maintaining an Outperform rating.
The positive earnings report and reaffirmed revenue guidance for FY24 indicate a strong financial health and growth outlook for Maravai LifeSciences. Baird's increased price target and continued Outperform rating further validate the company's upward trajectory, likely leading to increased investor confidence and a rise in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100