Owens & Minor price target lowered to $14 from $17 at Leerink

Leerink lowered the firm’s price target on Owens & Minor to $14 from $17 and keeps a Market Perform rating on the shares. The firm says the company’s Q3 results had a number of moving pieces to both the upside/downside but not enough visibility to lead Leerink to be more constructive despite a low historical valuation. The firm thinks there are a number of sustained growth efforts at Owens & Minor to help support underlying EBITDA but also some company-specific and market-related headwinds that have more limited visibility.