Avantor Inc. (NYSE:AVTR) sells chemicals and materials to biohealth and other industries, the stock after confirming a 35% earnings increase, despite a drop of about 3.5% in revenues. After a 10% gainer to 21.70 last Thursday, the market cap was at $12.731-B, and it hit a 52 wk high of 22.24 a share. The consensus target is 23.75.
Technically, AVTR broke out on 30 June at 17 and confirmed the move on 15 July at 19.21 and finished Friday at 21.08 in NY. And 6 covering analysts moved their targets up, both Jefferies and JPMorgan posted the Street’s Top number at 25/share.
Support and Resistance
The Support is Strong at 18.04 and there is No resistance.
Technically the stock is a Strong Buy, our target price is 34 and we are Bullish with Very Bullish Key indicators across the board.
Avantor, Inc. provides products and services to customers in the biopharma, healthcare, education and government, advanced technologies, and applied materials industries worldwide.
The company offers materials and consumables, such as purity chemicals and reagents, lab products and supplies, formulated silicone materials, customized excipients, customized single-use assemblies, process chromatography resins and columns, analytical sample prep kits, education and microbiology products, and clinical trial kits.
It also provides equipment and instrumentation products, including filtration systems, virus inactivation systems, incubators, analytical instruments, evaporators, ultra-low-temperature freezers, biological safety cabinets, and critical environment supplies.
In addition, the company offers services and specialty procurements comprising onsite lab and production, clinical, equipment, procurement and sourcing, and biopharmaceutical material scale-up and development services.
Avantor, Inc. was founded in Y 1904 and is HQ’d in Radnor, Pennsylvania.
Have a healthy week, Keep the Faith!