(NYSE: CTLT) investors are clearly an optimistic bunch, as lately they've been taking not-so-bad-news very positively and trading up the stock. This dynamic was clearly in force on Monday; despite a recommendation downgrade from a leading investment bank, the stock nevertheless rose on the day...if only slightly. It crawled 0.9% higher, which was good enough to match the S 500 index's modest rise.

JPMorgan Chase's (NYSE: JPM) Julia Qin was the person behind the downgrade. She shifted her recommendation on Catalent stock to neutral; previously she ranked it as an overweight (buy, in other words). She also took a giant pair of scissors to her price target, reducing this by exactly 50% to $45 per share.

Catalent has been a troubled company of late, and caution is clearly warranted. Qin is concerned that the company has numerous accounting issues, and that its recent operational adjustments are only slight. 

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Source Fool.com