KeyBanc Downgrades STERIS (STE) to Sector Weight

KeyBanc downgraded STERIS (NYSE: STE) from Overweight to Sector Weight and removed its price target (prior $76.00). Analyst Matthew Mishan expressed concerns about pending FTC litigation.

"Downgrade STE from Overweight to Sector Weight following our in-depth review of the FTC’s formal complaint of its pending merger with Synergy Health, as we now believe STE’s path to complete the transaction is considerably more uncertain and likely set to be litigated since a settlement/remediated solution has not already been reached. As such, we now see STE’s scope of risk-reward as somewhat more balanced, particularly over the next several months as it undertakes its challenge of the FTC’s decision," said Mishan.

For an analyst ratings summary and ratings history on STERIS click here. For more ratings news on STERIS click here.

Shares of STERIS closed at $66.77 yesterday.

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