S&P Equity Research Downgrades Teleflex (TFX) to Hold
TFX Hot Sheet
Rating Summary:2 Buy, 5 Hold, 0 Sell
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Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
S&P Equity Research downgrades Teleflex (NYSE: TFX) from Buy to Hold.
S&P analyst, S. Benway, says, "TFX has agreed to acquire Arrow International (Nasdaq: ARRO) for $45.50 per share or $2B, subject to regulatory and shareholder approvals. We believe the deal will position TFX as a leading maker of disposable medical products, expand overall profit margins, and reduce earnings cyclicality. TFX also said it is considering alternatives for some of its commercial units. Although we believe this is a favorable long-term strategic move, we are concerned about high debt levels and potential integration problems in the near term. Our 12-month target price remains $90."
S&P analyst, S. Benway, says, "TFX has agreed to acquire Arrow International (Nasdaq: ARRO) for $45.50 per share or $2B, subject to regulatory and shareholder approvals. We believe the deal will position TFX as a leading maker of disposable medical products, expand overall profit margins, and reduce earnings cyclicality. TFX also said it is considering alternatives for some of its commercial units. Although we believe this is a favorable long-term strategic move, we are concerned about high debt levels and potential integration problems in the near term. Our 12-month target price remains $90."
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