Deutsche Bank Starts ConforMIS (CFMS) at Buy

Deutsche Bank initiated coverage on ConforMIS (NASDAQ: CFMS) with a Buy rating and a price target of $27.

Analyst Kristen Stewart said, "ConforMIS is an orthopedic manufacturer of fully customized implants utilizing its iFit technology--iFit design, iFit printing (3D printing), and iFit just-in-time delivery. ConforMIS offers only knee implants but plans to expand into hips and other joints. In 2014, product sales totaled $48 million and we expect product sales to increase to $68M (+43% y/y) in 2015. With the full launch of iTotal PS knee in 2016, we expect product sales to increase $107M (+56% y/y). ConforMIS's approach and business model in orthopedics is as unique as its implants. It has a strong patent portfolio to protect its position. Given the large market opportunity and growth outlook, we initiate with a Buy and $27 PT."

For an analyst ratings summary and ratings history on ConforMIS click here. For more ratings news on ConforMIS click here.

Shares of ConforMIS closed at $22.12 yesterday.

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