KeyBanc analyst Brett Fishbin raised the firm’s price target on Steris (STE) to $288 from $277 and keeps an Overweight rating on the shares. The firm notes that underlying MedTech trends appear positive heading into Q2 earnings season, and KeyBanc believes sub-sector underperformance this year has been more attributable to macro uncertainties such as the impact of tariffs. Specifically, the firm’s Key First Look Data has indicated a high-single digit volume growth in the hospital category through Q2. KeyBanc continues to view tariffs as the biggest overhang to the group, but consensus estimates at least now incorporate the known base-case impacts.
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