BofA raised the firm’s price target on Solventum (SOLV) to $85 from $80 and keeps a Neutral rating on the shares after the company agreed to sell its Purification & Filtration business to Thermo Fisher (TMO) for $4.1B in cash. Solventum is moving on its multi-year turnaround faster than the firm initially had expected and this transaction will help accelerate the company getting “back on the offense to invest in growth,” the analyst tells investors.
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