Goldman Sachs Downgrades Sirona Dental (SIRO) to Neutral on Valuation and Slow 1st-Half

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Goldman Sachs downgraded Sirona Dental (NASDAQ: SIRO) from Buy to Neutral with a price target of $67.00 (from $66.00), citing limited upside.

While they still like the product cycle story, Goldman expects 1HFY13 growth to be challenged by supply constraints for its new CEREC Omnicam system and they sees below consensus EPS for both FY1Q and FY2Q. Also, at 19X consensus CY13 estimates valuation is full.

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 $66.80 yesterday, with a 52 week range of $40.59-$67.42.

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