Solventum price target lowered to $80 from $84 at Piper Sandler

Piper Sandler lowered the firm’s price target on Solventum (SOLV) to $80 from $84 and keeps a Neutral rating on the shares. The firm notes Q1 looks like another quarter in which Street models have been set in such a way that allows management to deliver at least modest upside at the top- and bottom lines. The tariff impact is an open question on Solventum, which maintains a global commercial and manufacturing footprint, though China and Mexico risks do look minimal. It’s also unclear whether the current macro environment/market volatility may limit any additional business transformation near term. But Piper does think investors should keep this name on their radar, particularly at these valuation levels and considering the track record of performance vs. consensus estimates that management is establishing.