Raymond James upgraded ICU Medical (ICUI) to Strong Buy from Outperform with a price target of $97, down from $205. The firm believes the stock’s risk/reward now skews favorably. Raymond James acknowledges the tariff risk, but believes the stock is “baking in a near worst-case scenario, which effectively leaves a free call option if tariffs are lifted/not implemented.” The business is strong and ICU is “unique self-help story” that should generate 15%-plus earnings growth over the next two years, the analyst tells investors in a research note.
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