Citi analyst Patrick Donnelly upgraded Sotera Health to Buy from Neutral with a price target of $16, down from $18. The analyst says the impact from the recent litigation news has driven the stock’s multiple to a point where it overstates the possibility of any near-term litigation risk. No updates are expected in fiscal 2024 with no timelines established for cases in California, Illinois, and New Mexico, and the next update for Georgia cases is expected early fiscal 2025, the analyst tells investors in a research note.
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