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Fly News Breaks for February 22, 2018
GMED
Feb 22, 2018 | 06:59 EDT
BTIG analyst Ryan Zimmerman raised his price target on Globus Medical to $51, saying the company's Q4 earnings highlighted the momentum from the recent robotics launch. Zimmerman believes that the company's ability to grow its market share will depend on product innovation and expanding its salesforce, which he believes can be achieved with the reinvestment of the gains from U.S. tax changes. The analyst also keeps his Buy rating on Globus Medical, stating that while the upside in the core U.S. spine market growth is limited, the company can outperform from new product launches.
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