Owens & Minor initiated with a Market Perform at Leerink

Leerink analyst Michael Cherny initiated coverage of Owens & Minor with a Market Perform rating and $24 price target. While its its valuation is undemanding, the company’s growth targets, unveiled at its December 2023 Investor Day appear ambitious, the analyst tells investors in a research note. Owens & Minor has successfully repositioned its business through the acquisitions of Byram and Apria, but Leerink awaits more tangible growth catalysts to help increase its comfort with the company’s longer-term guide.