Canaccord Genuity Removes Alphatec (ATEC) From Best Ideas List; Q3/11 US Strength Offsets EU Weakness

Canaccord Genuity maintains a 'Buy' on Alphatec Holdings (NASDAQ: ATEC) price target lowered to $3.50.

Canaccord analyst, William J. Plovanic, said, "We maintain our rating following mixed results in the Q3/11. We note that in-line US revenues continue to grow above market rates; however, weakness OUS weighed down top-line results. New product cycle and operating leverage set to drive earnings in 2012. We are removing the name from our Best Idea list due to the challenging global macro environment for orthopedics."

For more ratings news on Alphatec Holdings click here and for the rating history of Alphatec Holdings click here.

Shares of Alphatec Holdings closed at $2.00 yesterday.

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