UPDATE: SunTrust Starts SeaSpine Holdings (SPNE) at Buy

(updating comment)

SunTrust analyst Kalia Krum initiates coverage on SeaSpine Holdings (NASDAQ: SPNE) with a Buy rating and a price target of $15.00.

The analyst comments "We believe SeaSpine is on the verge of an inflection point, with new products and heightened distribution focus expected to drive durable, double-digit revenue growth (on a normalized basis). The company is well-positioned to take share in the $10B+ spine market, with a broad portfolio, an experienced management team, and a customer-focused culture. While COVID-19 will very likely impact revenue near-term, the company has a healthy balance sheet augmented by its recent capital raise, and we think mid-size players like SeaSpine can benefit from structural changes in the spine market over time."

For an analyst ratings summary and ratings history on SeaSpine Holdings click here. For more ratings news on SeaSpine Holdings click here.

Shares of SeaSpine Holdings closed at $7.54 yesterday.

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