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Fly News Breaks for November 27, 2018
NUVA
Nov 27, 2018 | 07:10 EDT
RBC Capital analyst Glenn Novarro raised his price target on NuVasive to $70 and kept his Outperform rating, saying the set-up for its 2019 has become "more favorable" following a disappointing 2018 and the recent CEO transition. The analyst believes that the company's manufacturing issues are now in the past, with new products "driving an acceleration in U.S. spine market share gains". Novarro also lowers his FY18 EPS view to $2.19 from $2.45 to reflect the heavier investment spending in generating revenue growth while raising his FY19 revenue growth view to 7% from 6%.
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