Jefferies Lowers Price Target & Raises Estimates on Teleflex (TFX), Revamps Model
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Price: $138.83 +2.87%
Rating Summary:
13 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
13 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies is reaffirming its Hold rating on shares of Teleflex (NYSE: TFX) while lowering its price target from $63 to $60.
Due to new a tax model, restructuring, and debt amortization schedules, the firm is tweaking its CY11 and CY12 estimates. For 2011, Jefferies is now forecasting $1.502 billion in revenue, up from its previous estimate of $1.479 billion. The firm is reiterating its EPS estimate of $4.10. For 2012, Jefferies is estimating $1.553 billion in revenue with $4.61 in EPS, up from its previous estimates of $1.54 billion and $4.35.
An analyst at Jefferies comments, "Through C10, the remaining Nordisk and Telair divisions generated approximately $134M in revenue and an estimated $0.28 in operating EPS. Our revised model now fully accounts for the discontinuation of these assets through C10 and C09. After accounting for the revenue, estimated operating and tax expenses for these assets, the company’s revised C10 and C09 revenue and adjusted EPS goes to $1.433B and $3.77 and $1.434B and $3.63."
For more ratings news on Teleflex click here and for the rating history of Teleflex click here.
Shares of Teleflex closed at $53.56 yesterday.
Due to new a tax model, restructuring, and debt amortization schedules, the firm is tweaking its CY11 and CY12 estimates. For 2011, Jefferies is now forecasting $1.502 billion in revenue, up from its previous estimate of $1.479 billion. The firm is reiterating its EPS estimate of $4.10. For 2012, Jefferies is estimating $1.553 billion in revenue with $4.61 in EPS, up from its previous estimates of $1.54 billion and $4.35.
An analyst at Jefferies comments, "Through C10, the remaining Nordisk and Telair divisions generated approximately $134M in revenue and an estimated $0.28 in operating EPS. Our revised model now fully accounts for the discontinuation of these assets through C10 and C09. After accounting for the revenue, estimated operating and tax expenses for these assets, the company’s revised C10 and C09 revenue and adjusted EPS goes to $1.433B and $3.77 and $1.434B and $3.63."
For more ratings news on Teleflex click here and for the rating history of Teleflex click here.
Shares of Teleflex closed at $53.56 yesterday.
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