Solventum price target raised to $93 from $92 at KeyBanc

KeyBanc analyst Brett Fishbin raised the firm’s price target on Solventum (SOLV) to $93 from $92 and keeps an Overweight rating on the shares. While there continues to be noise around quarterly cadence as a result of the 3M separation, the firm views underlying trends as consistent with 2026 guidance and believes Solventum is progressing toward 2028 financial targets. More specifically, Q1 results were modestly above expectations, supported by organic upside in each segment vs. the firm’s model, and the 2026 outlook was mostly unchanged. However, KeyBanc says, Q2 is now expected to benefit from a significant buy-in ahead of a planned Q3 ERP implementation, and the firm sees capital allocation flexibility in 2026.