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Fly News Breaks for February 26, 2020
LIVN
Feb 26, 2020 | 13:46 EDT
Piper Sandler analyst Matt O'Brien said LivaNova reported a "noisy" fourth quarter along with initial FY20 guidance that was "a bit light" compared to consensus. He believes the guidance miss is mainly due to management's conservatism and notes his view that key new product launches in HLM, ACS, and Neuromod over the next year or so should buoy results. O'Brien, who predicts the company's depression drug that is under development "will be a massive value creator in the coming years, maintains an Overweight rating on LivaNova, but lowered his price target on the shares to $80 from $90.
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