Stifel Reiterates Buy Rating on Colfax Corporation (CFX) Following Healthcare Conference
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Stifel analyst Nathan Jones reiterated a Buy rating and $37.00 price target on Colfax Corporation (NYSE: CFX) after meeting with management at Stifel's healthcare conference. Jones came away feeling good about the progress made to date on DJO and with the path to continue improving and growing the businesses.
Management is very confident it can produce a minimum of $250 million in FCF in 2020 even in a modestly worse macro environment. DJO looks to be ahead of schedule. 2H19 growth is expected to be higher than initially anticipated as Colfax has accelerated some of the operational improvement initiatives that has allowed it to clear backlog faster than expected and get closer to ramping up organic growth.
Shares of Colfax Corporation closed at $32.71 yesterday.
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