Soleil Securities Downgrades STERIS Corporation (STE) to Sell
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Soleil Securities downgrades STERIS Corporation (NYSE: STE) from Hold to Sell with a $26 price target.
The firm said, "While we anticipate favorable YOY results for F09, we are concerned near
term about higher stainless steel costs, delayed purchase decisions by hospitals given the upcoming Presidential election, and the recent FDA warning letter which could require a new 510(k) submission for the Company's SYSTEM 1 sterile processor."
STERIS Corporation is a medical appliance and equipment company which develops, manufactures, and markets infection prevention, contamination control, microbial reduction, and surgical and critical care support products and services.
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