Sotera Health (SHC) PT Raised to $35 at Jefferies After Reporting its First Public Quarter

March 10, 2021 8:57 AM EST
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Price: $26.29 +1.86%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

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Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Jefferies analyst David Windley raised the price target on Sotera Health (NASDAQ: SHC) to $35.00 (from $33.50) after the company made a clean break in its 1st public quarter.

The analyst reiterated the Buy rating, stating "We think trading weakness ahead of results reflected concern about 1Q COVID flare-ups stunting near-term growth and, perhaps, using up any conservatism in the IPO targets for FY21. That didn't happen. Both 1Q20 indicators and FY21 landed ahead of JEF/cons. We think pre-IPO FY21 segment growth rates remains directionally intact, just now a bit steeper and Nordion's cadence a bit smoother. Pricing remains SHC's key LT driver for both revs and margins, with L/MSD increases supported by contractual escalators, tight supply, and high switching costs for Sterigenics and Nordion. We see little risk to margins, barring further disruption to procedure vols as FY21 progresses."

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