BUZZ-Analysts start coverage on Medline with bullish ratings

Reuters01-12
BUZZ-Analysts start coverage on Medline with bullish ratings

** At least six brokerages start coverage on medical supplies maker and distributor Medline MDLN.O with bullish ratings as industry-mandated quiet period ends

** Medline made its public-market debut in December, valuing co at $46 billion in the largest U.S. IPO since Rivian's RIVN.O 2021 listing

** JPM says MDLN’s recent market share gains are likely to endure, with co well-placed to keep winning business by offering cost savings alongside strong service

** Jefferies says co is expected to grow at high single‑digit pace or better, with growth split evenly between existing customers and new client wins

** Trading price of $40.52 as of Friday's close is higher than IPO price of $29

** Ratings and PTs on the stock:

Brokerage

Rating

PT

J.P. Morgan

Overweight

$50

Leerink Partners

Outperform

$48

Baird

Outperform

$48

RBC

Outperform

$47

Piper Sandler

Overweight

$50

Jefferies

Buy

$50

(Reporting by Kanishka Ajmera in Bengaluru)

((mail to: Kanishka.Ajmera@thomsonreuters.com))

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