Owens & Minor price target lowered to $19 from $20 at Baird

Baird lowered the firm’s price target on Owens & Minor to $19 from $20 and keeps a Neutral rating on the shares. The firm believes shares are undervalued from a long-term perspective, and would not be surprised by a relief rally with Q2’s report however, even if Q2 and updated 2024 expectations are less bad than Street fears, they don’t currently sense substantial long-only interest in the name or its respective sector exposures.