Citi Upgrades Smith & Nephew (SNN) to Buy
More News related to SNN
- UBS Upgrades Smith & Nephew (SNN) to Buy
- San Anton Announces Business Combination With Kings Minerals
- San Anton Announces Business Combination With Kings Minerals
- The International Negative Pressure Wound Therapy Expert Panel to Announce Results of Inaugural Symposium in Hamburg
- International NPWT Expert Panel Convenes in Hamburg
More News related to Upgrades
- Thomas Weisel Upgrades Agrium (AGU) to Market Weight, Boosts Target to $68
- Calyon Securities Upgrades NYSE Euronext (NYX) to Outperform
- SunTrust Upgrades Hancock Holding (HBHC) to Buy
- Raymond James Upgrades Canadian National Railway (CNI) to Outperform
- UBS Upgrades Commerce Bancshares (CBSH) to Buy
Citi upgrades Smith & Nephew (NYSE: SNN) from Hold to Buy, saying core business areas have remained relatively immune to economic pressure.
Citi analyst says, "Q4 results provided reassurance that core business areas have remained relatively immune to economic pressure and that steps are already in place to control costs in those divisions more exposed to the economy, namely endoscopy...Smith & Nephew currently trades on a 2010E PE of 10.6x despite forecast EPSA growth of 12% CAGR 08-13E. This assumes 23.8% EBITA margin in 2011, some 70bp below management target. Given SN's potential to outperform the index in the shorter term due to its defensive nature, and possibility for EPS increases if longer term targets are met, we upgrade to a Buy recommendation."
Smith & Nephew plc is a global medical devices company engaged in the development, manufacture and marketing of medical devices in the sectors of orthopedic reconstruction, orthopedic trauma and clinical therapies, endoscopy and advanced wound management.
Related Categories
UpgradesStocks Mentioned
+0.00Related Entities
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!
