Goldman Sachs Lifts Numbers On Sirona Dental Systems (SIRO)
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Price: $109.97 --0%
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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Goldman Sachs raised estimates and its price target on Conviction Buy List-rated Sirona Dental (NASDAQ: SIRO) following better-than-expected Q2 results.
The analyst said the results were particularly impressive given the expected pick up in sales in the 2nd half of the year.
The firm's price target goes from $62 to $66, suggesting 19% upside. The firm raised FY11-FY13 adjusted EBIT estimates to $220 million, $254 million, and $282 million from $216 million, $244 million, and $270 million.
The reiterated their rating citing: (1) interest in high-tech equipment investment (nearly 70% of total sales); (2) accelerated growth in CAD/CAM and Digital Imaging, with support from new product launches (i.e., Orthophos XG 3D); and (3) an attractive valuation, with shares trading at 10.8X our CY2012 EBITDA versus dental peers of 11.2X.
For more ratings news on Sirona Dental click here and for the rating history of Sirona Dental click here.
Shares of Sirona Dental closed at $55.39 yesterday.
The analyst said the results were particularly impressive given the expected pick up in sales in the 2nd half of the year.
The firm's price target goes from $62 to $66, suggesting 19% upside. The firm raised FY11-FY13 adjusted EBIT estimates to $220 million, $254 million, and $282 million from $216 million, $244 million, and $270 million.
The reiterated their rating citing: (1) interest in high-tech equipment investment (nearly 70% of total sales); (2) accelerated growth in CAD/CAM and Digital Imaging, with support from new product launches (i.e., Orthophos XG 3D); and (3) an attractive valuation, with shares trading at 10.8X our CY2012 EBITDA versus dental peers of 11.2X.
For more ratings news on Sirona Dental click here and for the rating history of Sirona Dental click here.
Shares of Sirona Dental closed at $55.39 yesterday.
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