Fly News Breaks for February 1, 2018
NUVA
Feb 1, 2018 | 08:52 EDT
As previously reported, Leerink analyst Richard Newitter downgraded NuVasive to Market Perform from Outperform as he sees limited near-term upside to estimates. The analyst thinks any sustained increase in shares/multiple will be tough to come by without greater confidence that organic top-line growth can break out of low-single digit territory and management can more predictably under promise and over deliver on guidance as a result of new product launches or rising sales force productivity. The analyst also lowered his price target on the shares to $51 from $63.
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