Wells Fargo Upgrades NuVasive (NUVA) to Outperform; Spine Market has Bottomed

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Wells Fargo upgraded NuVasive (NASDAQ: NUVA) from Market Perform to Outperform, price target range raised from $17-18 to $29-31.

Analyst, Larry Biegelsen, said, "...we believe (1) the spine market has bottomed out; (2) NUVA's 2012 guidance and consensus appear overly conservative; (3) the possible elimination of the medical device tax represents significant upside potential to NUVA; and (4) valuation remains attractive.

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 $22.92 yesterday, with a 52 week range of $11.02-$34.82.

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