UPDATE: Morgan Stanley Initiates Coverage on Catalent with Overweight Rating, $27 PT on Good Market Position

In a report published Tuesday, Morgan Stanley analyst Ricky R. Goldwasser initiated coverage on

with an Overweight rating and $27.00 price target. In the report, Morgan Stanley noted, “The bellwether of contract manufacturing organizations (CMO), CTLT is well positioned to deliver stable top and bottom line growth as it is set to benefit from an increasingly complex new drug pipeline with embedded optionality to gain share as biologics market expands.” Catalent closed on Monday at $22.40.