Barclays analyst Luke Sergott double-upgraded Sotera Health to Overweight from Underweight with a price target of $22, up from $6. The analyst says that on the heels of management settling the Willowbrook, IL docket for $52k per case, the litigation risk on the company has been "cleared". Sergott adds that he looks forward to a similar outcome for Atlanta, where he estimates the total liability to land somewhere between $15M-$30M. The analyst also notes that punitive damages in Georgia are capped at $200K, which would make the settlement a more favorable one than in the Illinois cases.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SHC:
- Sotera Health ‘to rock’ with ‘massive overhang’ removed, says Wolfe Research
- Here’s What Caused Sotera Health’s (NASDAQ:SHC) Stunning Rally
- Sotera Health Announces Settlement of Ethylene Oxide Litigation in Illinois
- Sotera Health settles ethylene oxide litigation in Illinois for $408M
- Sotera Health Chairman and CEO Presents at 41st Annual J.P. Morgan Healthcare Conference