Stifel maintained a Buy rating and $75 price target of Stericycle following a Bloomberg report that the company was considering a sale and had hired a financial advisor after receiving unsolicited takeover interest, which caused the stock to jump 15% today. After speaking with Stericycle, the firm believes Bloomberg was “fishing for a story,” adding that Stericycle did not comment to Bloomberg when asked. Stifel believes a potential sale would be complicated as “most strategic buyers would want one or the other of the two segments but not both.”
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