Wells Fargo analyst Larry Biegelsen upgraded Globus Medical to Outperform with an increased price target of $46. The analyst likes the company's diversification strategy amid a "weak" spine market. Globus is in the process of launching its ExcelsiusGPS robot for spine surgery as well as entering the $3B U.S. trauma market, Biegelsen tells investors in a research note. His channel checks on the ExcelsiusGPS robot have been "very positive" and he believes it can drive pull through of spine implants over time. Further, the analyst sees Globus as a relatively large benefactor from U.S. tax reform.