Life sciences firm Avantor down; BofA downgrades to 'Neutral'

Shares of life sciences firm Avantor AVTR.N down 1% at $11.05

BofA downgrades stock to "neutral" from "buy"

Brokerage notes muted backlog conversion, equipment reliability issues and ongoing competitive dynamics will create uncertainty in near term

Adds AVTR's "valuation remains attractive and remains constructive on the platform longer-term, but believes a cautious stance is appropriate near-term until consistent progress is evident"

4 of 20 brokerages rate the stock "buy" or higher, 15 "hold", 1 brokerage rates the stock "sell" or higher; median PT is $28 - data compiled by LSEG

As of last close, stock down ~50% YTD