Solventum price target raised to $98 from $94 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Solventum (SOLV) to $98 from $94 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 results that included revenue of $2,096M/+2.7% organic and EPS of $1.50, another quarter of outperformance vs. consensus expectations and living up to the beat/raise call it previewed. This is the seventh consecutive quarter in which management has delivered upside vs. Street, and it’s also the fourth guidance raise during that time, Piper adds.