Piper Sandler upgraded Steris (STE) to Overweight from Neutral with a price target of $260, up from $230. The upgrade is more a call that the negativity surrounding healthcare equipment and ethylene oxide litigation risk are fully reflected in shares at current valuation levels than it is on the upcoming earnings report, the analyst tells investors in a research note. The firm sees the 12-month risk/reward for Steris shares as attractive with a multiple re-rating looking possible as execution improves and Applied Sterilization Technologies growth accelerates over the coming quarters.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on STE:
- Steris management to meet with Piper Sandler
- Election 2024: Where To Put Your Money Ahead of the Vote
- Steris price target raised to $265 from $255 at KeyBanc
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
