Steris upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Steris (STE) to Overweight from Equal Weight with a price target of $276, up from $260. The firm’s work on the potential margin gains from the shift to E-Beam, consolidation of volumes and pricing power on NESHAP compliance costs, improving bioprocessing trends, and potential tailwind from Olympus’ import ban into the U.S., all leave the firm more positive on Steris, the analyst tells investors in a research note.