BofA initiated coverage of Solventum (SOLV) with a Neutral rating and $70 price target. Solventum has a “solid and well-known” management team and valuation that is “not stretched.” However, BofA thinks it could take four to five years to turn around this business that was “under-managed” within 3M (MMM), the analyst tells investors.
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Read More on SOLV:
- Solventum backs FY24 adjusted EPS view $6.10-$6.40, consensus $6.27
- Solventum reports Q1 adjusted EPS $2.08, consensus $1.74
- Solventum Reports First Quarter 2024 Financial Results and Capital Allocation Update
- Solventum initiated with an Equal Weight at Morgan Stanley
- Solventum initiated with an Equal Weight at Wells Fargo