SeaSpine Holdings (SPNE) PT Raised to $27 at Cantor Fitzgerald
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Cantor Fitzgerald analyst Brandon Folkes raised the price target on SeaSpine Holdings (NASDAQ: SPNE) to $27.00 (from $23.00) while maintaining an Overweight rating.
The analyst commented, "Post 1Q21 preliminary results, we reiterate our Overweight rating and are raising our 12-month PT on SPNE shares to $27, from $23. Our price target increase is driven by, upwards revenue revision, multiple expansion to 3.4x 2021 EV/Sales due to the increased visibility around growth in 2021 and 7D Surgical being accretive to EBITDA in 2022. We think SPNE’s underappreciated orthobiologics business and its new product launches differentiate the company from its spine peers. We believe SPNE will continue to execute and deliver on management’s expectation of strong growth, post COVID, which should drive upside in the stock and multiple expansion."
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