Teleflex (TFX) PT Raised to $228 at Needham & Company Following 2Q

Needham & Company raised its price target on Teleflex (NYSE: TFX) to $228.00 (from $224.00) while maintaining a Buy rating. TFX reported 2Q revenues of $529M vs. consensus of $519M and EPS was $2.04 vs. consensus of $1.90.

For 2017, management reiterated its revenue growth guidance of 12.5-14.0% CC and raised its EPS guidance to $8.20-8.35 from $8.05-8.23 vs. consensus of $8.16. Needham & Company raised 2017 and 2018 revenue estimates to $2.093B from $2.061B and to $2.247B from $2.196B, respectively.

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