Sector Weight -> Overweight
upgrade
Reason
KeyBanc last night upgraded Solventum to Overweight from Sector Weight with a $97 price target. The firm says the company's spinoff from 3M "is off to an encouraging start." With new product launches, accretive acquisitions, a "steady" macro backdrop, and the annualization of SKU headwinds in 2027, Solventum could track closer to its 4%-5% organic growth objective ahead of its 2028 timeline, the analyst tells investors in a research note. KeyBanc also likes the stock setup for 2026, saying recent concerns around Solventum's 2026 guidance may be overblown and that the company has shifted into an offensive capital allocation strategy.