Teleflex (TFX) PT Lowered to $227 at Truist Securities
Truist Securities analyst Richard Newitter lowered the price target on Teleflex (NYSE: TFX) to $227.00 (from $255.00) while maintaining a Hold rating.
The analyst commented: "TFX's 3Q rev miss/guide down overshadowed a solid profit, but the stock's post-3Q -16% sell-off (IHI -1%) felt overdone to us---likely exacerbated by crowded long hedgefund positioning into the print---as the neg. impact to our '25E EPS is only a 2% reduction ultimately. Still, the UL miss & reduced outlook were dissappointing, and we do think (our) slower 2025 cc rev/EPS growth prospects warrant a lower tgt multiple w/ IABP tailwinds less incremental to the '25 growth accel. thesis vs. prior expects, especially w/ UroLift trends still deteriorating (& unclear if will stabilize by '25 now) + new '25 OEM headwinds emerging. Reit. Hold"