Goldman Sachs Adds Smith & Nephew (SNN) To Their Conviction Buy List

Earlier, Goldman Sachs added Smith & Nephew (NYSE: SNN) to their Conviction Buy List, after the company beat their forecast by 26% on a lower tax rate and a further big margin rise.

Goldman is raising their 2009-11 EPS estimates by 7%-8% on a faster expected rise in EBITA margins of 360 bp for 2008-10E, an organic sales growth recovery from 2.4% in 2009E to 5.7% in 2010E, and a favourable FX impact (+3%-4%) in 2010E.

The firm raised their price target from 685p to 725p.

Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php

You May Also Be Interested In

• Needham & Company Reiterates a 'Buy' on UQM Technologies (UQM); Increasing EV Adoption
• Barclays Lowers Estimates on Tiffany & Co. (TIF); Still Sees Significant Value
• Barclays Reiterates an 'Equalweight' on Lexington Realty Trust (LXP); Growing Pipeline, But Waiting on Cash in 2013

Create E-mail Alert Related Categories

Analyst Comments

Related Entities

Goldman Sachs Conviction Buy List

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter