Globus Medical's Untapped Potential Beyond The NUVA Transaction; Analyst Turns Bullish
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Mathew Blackman has upgraded Globus Medical, Inc. (GMED) to Buy from Hold, lowering the price target to $61 from $65. Despite the pessimistic market sentiment following the NUVA transaction, Blackman believes GMED is a 'best-in-class' Spine company and should get more credit. He also raised the revenue estimate for FY23 and FY24. GMED shares are trading higher by 3.03%.
September 19, 2023 | 6:16 pm
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Globus Medical has been upgraded to Buy from Hold by Stifel analyst, with a lowered price target of $61. The analyst also raised the revenue estimates for FY23 and FY24.
The upgrade from Stifel analyst, along with the raised revenue estimates for FY23 and FY24, indicates a positive outlook for GMED. Despite the lowered price target, the upgrade to Buy suggests that the analyst sees potential for growth in the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100