NuVasive (NUVA): Management Meeting Highlights Potential EPS Upside - Piper Jaffray
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray analyst Matt O'Brien, reiterated his Overweight rating on shares of NuVasive (NASDAQ: NUVA) after meeting with company management (Greg Lucier (CEO), Carol Cox (EVP Strategy and Corporate Communications) and Micah Young (VP, Finance)) on its bus tour. The analyst stated that the meeting was very upbeat and he views the revenue and, more importantly, the earnings outlook "among the best in all of med tech".
The analyst stated the following two key points:
1) "With negative commentary on the health of the spine market here in Q3, NUVA’s management summarily dismissed that notion with its view on domestic volumes."
2) Management expects to generate $1.6B of annual revenue by 2020. NUVA’s internal annual growth projection of 14% through 2020 (assuming mid-point of 2016 guidance) is much more aggressive than what the Street has modeled at 9% ($1.35B revenue target for 2020).
No change to the price target of $70.
Shares of NuVasive closed at $65.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Downgrades Kroger (KR) to Hold
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesPiper Jaffray, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!