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Fly News Breaks for July 28, 2017
NUVA
Jul 28, 2017 | 06:02 EDT
Piper Jaffray analyst Matt O'Brien recommends investors use the post-earnings selloff today in shares of NuVasive as a buying opportunity. While the slightly below expectations Q2, resignation of CFO Quentin Blackford, the Office of Inspector General subpoena and comments on heightened pricing pressure are "startling," the wheels are not coming off at NuVasive and the revenue headwinds as temporary, O'Brien tells investors in a research note. He does not believe the OIG matter "materializes into something too problematic." The analyst keeps an Overweight rating on the shares with a $90 price target.
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