Needham & Company Upgrades Globus Medical (GMED) to Buy

Needham & Company upgraded Globus Medical (NYSE: GMED) from Hold to Buy with a price target of $57.00.

ANalyst Mike Matson offers the four reasons for the upgrade:

1. we believe that GMED's ExcelsiusGPS robot is very competitive with MZOR's Mazor X,
2. we are now more optimistic about GMED's entry into the trauma market,
3. we have increased confidence that the Emerging Technologies business (robotics + trauma) can accelerate growth and drive upside to consensus, and
4. our sum-of-parts analysis indicates that GMED shares are undervalued.

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 $49.10 yesterday.

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