UPDATE: Canaccord Genuity Upgrades NuVasive (NUVA) to Buy
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Rating Summary:
11 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 4 | New: 35
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Canaccord Genuity upgraded NuVasive (NASDAQ: NUVA) from Hold to Buy with a price target of $58.00 (from $52.00). Analyst William J. Plovanic said OM leverage trumps tough revenue comps.
"Our previous concerns about slowing (or constrained) top-line growth have played out in the 1H/15, but not to the extent we feared. We believe a current and projected strong US macro for the broad spine market offset tough comps and will continue to provide a solid tailwind. However, we note that management has noted challenges for OUS with tough comps and management changes impacting Y/Y growth rates for the 2H/15. Regardless, we believe investors are more focused on OM leverage, and new management has just begun to focus on operational improvements and will likely drive continued operating leverage regardless of whether or not revenues outperform expectations," said Plovanic.
For an analyst ratings summary and ratings history on NuVasive click here. For more ratings news on NuVasive click here.
Shares of NuVasive closed at $52.51 yesterday.
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