Goldman Sachs Boosts Numbers on Sirona Dental (SIRO) Ahead of IDS
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Price: $69.40 --0%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 14 | New: 28
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 14 | New: 28
Trade SIRO Now!
Goldman Sachs boosted estimates and its price target on Sirona Dental (NASDAQ: SIRO) from $56 to $62 to reflect a more favorable view of the company's outlook, ahead of what should be a strong upcoming IDS (International Dental Show) year.
"While shares of SIRO have outperformed since earnings on August 3 (+27%, S&P +7%), on the back of a solid beat and the launch of its new CEREC Omnicam, we believe appreciation for the product cycle story is gaining momentum and continue to see upside to Street estimates with Omnicam’s sales expected to fully ramp starting FY2H13," the analyst said. "Furthermore, with shares still trading just below historical averages (9.7X vs. 10X), we see support to valuation and reiterate our Buy rating on the stock."
The firm raised FY2013-FY2014 revenue and EPS estimates by 1% to reflect contribution from SIRO's new Omnicam.
For an analyst ratings summary and ratings history on Sirona Dental click here. For more ratings news on Sirona Dental click here.
Shares of Sirona Dental closed at $55.65 yesterday, with a 52 week range of $39.15-$56.31.
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"While shares of SIRO have outperformed since earnings on August 3 (+27%, S&P +7%), on the back of a solid beat and the launch of its new CEREC Omnicam, we believe appreciation for the product cycle story is gaining momentum and continue to see upside to Street estimates with Omnicam’s sales expected to fully ramp starting FY2H13," the analyst said. "Furthermore, with shares still trading just below historical averages (9.7X vs. 10X), we see support to valuation and reiterate our Buy rating on the stock."
The firm raised FY2013-FY2014 revenue and EPS estimates by 1% to reflect contribution from SIRO's new Omnicam.
For an analyst ratings summary and ratings history on Sirona Dental click here. For more ratings news on Sirona Dental click here.
Shares of Sirona Dental closed at $55.65 yesterday, with a 52 week range of $39.15-$56.31.
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