Why Sotera Health Got Slammed Again on Wednesday
The hits keep coming for Sotera Health (NASDAQ: SHC), the beleaguered company that just suffered a stinging legal defeat. For the third day in a row, the company's stock fell hard, diving by nearly 11%. This was due to yet another analyst lowering his recommendation on the shares.
JPMorgan Chase prognosticator Tycho Peterson weighed in with a new take on Sotera stock before market hours. To no one's surprise, he has become notably more bearish on the company's future due largely to those legal woes. He knocked his recommendation down two pegs, to underweight (sell, in other words) from the previous overweight (buy). Commensurately, he also radically reduced his price target to $9 per share from $26.
Peterson isn't the only analyst scrambling to make adjustments to their takes on the healthcare company. His move comes a day after another high-profile bank, Goldman Sachs, reduced its recommendation on the stock, although this modification wasn't as drastic. In Goldman's case, analyst Amit Hazan lowered his to neutral from the preceding buy.
Source Fool.com
