UPDATE: Northland Capital Markets Upgrades Zimmer Biomet (ZBH) to Outperform
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Northland Capital Markets analyst Jason Wittes upgraded Zimmer Biomet (NYSE: ZBH) from Market Perform to Outperform with a $200 price target.
The analyst commented, "We are upgrading ZBH to an Outperform with a $200 PT. Our prior call was for $165, based on what we saw as a low single digit grower, and anything greater as aspirational. Big cap ships like ZBH take time to turn, so we have been cautious on when to upgrade, but our checks (on salesforce/products and docs) indicate that the path to mid-single digits (4-5%) thanks to ROSA adoption, a renewed commitment to innovation, and the selling off underperforming Dental and Spine and making way for M&A."
Shares of Zimmer Biomet closed at $166.00 yesterday.
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