Oppenheimer Remains Bullish on Integra LifeSciences (IART) After Traveling with Management
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Oppenheimer reiterated an Outperform rating and $93.00 price target on Integra LifeSciences (NASDAQ: IART) after traveling with management.
Analyst Steven Lichtman commented, "We recently traveled with IART in a series of investor meetings. Our focus for IART over the past number of years has been the out-sized operating margin expansion opportunity. While we certainly see continued leverage ahead, we believe IART is also adding sustainable solid top-line growth to the story. The company has accelerated both R&D and sales & marketing investment over the past couple of years while leveraging COGS and G&A. We believe this will lead to a consistent cadence of pipeline products and sustainable mid-to-upper single digit organic sales growth. Two opportunities in particular that we focused on during our time on the road—IART’s ability to cross-sell product lines to hospitals and the runway ahead to grow the highmargin regenerative business."
Shares of Integra LifeSciences closed at $83.13 yesterday.
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