DB - Why Catalent Stock Dove More Than 7% Today
2023-04-18 18:33:03 ET
Extending its streak of declines, Catalent (NYSE: CTLT) stock fell again on Tuesday. The contract drug manufacturer's shares lost more than 7% of their value on a day when the S&P 500 index essentially traded flat. A pair of analysts' price target cuts were the apparent catalysts for this latest slide.
On Tuesday morning, prognosticators from Barclays (NYSE: BCS) and Deutsche Bank (NYSE: DB) made downward adjustments to their Catalent targets.
Of the two, the change by Barclays' Luke Sergott was by far the more dramatic. Sergott chopped his price target to $40 per share -- quite the downshift from his previous target of $70. He didn't, however, adjust his recommendation on the specialty healthcare stock, which remains at equal weight (hold, in other words).
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Why Catalent Stock Dove More Than 7% Today