Merit Medical price target lowered to $112 from $116 at Piper Sandler

Piper Sandler lowered the firm’s price target on Merit Medical (MMSI) to $112 from $116 and keeps an Overweight rating on the shares ahead of quarterly results. The firm notes that policy and broad economic uncertainty has seemingly created opportunities for investors to do value shopping. Piper continues to see Merit as one of its better 12-month ideas, but thinks this is a better name to own after Q1 given what the firm expects to be an overly conservative approach to tariff risk and Wrapsody commercial upside more tilted towards the second half of the year.