Sotera Health price target raised to $17 from $15 at Piper Sandler

Piper Sandler raised the firm’s price target on Sotera Health (SHC) to $17 from $15 and keeps a Neutral rating on the shares. The firm notes the company announced Q3 results that included revenue that came in above Street’s on upside from Nordion, and as EBITDA% progress continues to be evident in Sterigenics. Guidance is also moving slightly higher to account mainly for the Q3 beat, a wise expectation management move that should make for a favorable setup through year-end and into Q4 reporting, especially knowing that the outsourced sterilization market is back to growing at attractive normalized rates, Piper adds.