Piper Jaffray Raises Price Target on 'Top Pick' Globus Medical (GMED) to $28
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Rating Summary:
17 Buy, 10 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Piper Jaffray analyst Matt Miksic reiterated an Overweight and 'Top Pick' rating and boosted his price target on Globus Medical (NYSE: GMED) to $28.00 (from $26.00) saying the current valuation as among the most compelling in their universe.
Miksic said, "One of the most striking attributes of the stock is the rare combination of its best in class 34% EBITDA margins and 11% 5-yr revenue CAGR..." He added, "While the sentiment toward the stock obviously took a big hit after Q2, we see the underlying business as solid and management maintaining EBITDA and EPS guidance as significant and emblematic of the company’s commitment to execution."
For an analyst ratings summary and ratings history on Globus Medical click here. For more ratings news on Globus Medical click here.
Shares of Globus Medical closed at $19.00 yesterday.
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