Piper Sandler upgrades Solventum on strong execution, consistent beats

Piper Sandler upgrades medical device maker Solventum SOLV.N to "overweight" from "neutral", raises PT to $87 from $78

New PT implies 14.8% upside to stock's last close

Brokerage says co has shown strong execution, with four quarters of clean beats and slight guidance raises, indicating that management is on right track

Says co has showed consistent improvement in top-line growth and margins

SOLV's tariff risk appears meaningfully lessened following recent U.S.-China trade tension de-escalation, Piper Sandler says

Brokerage adds EPS estimates for SOLV have potential upside, driven by co's restructuring efforts, becoming fully independent from its former parent 3M MMM.N and efforts to remove unprofitable products

Including session's moves, SOLV stock up 12.7% YTD