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Fly News Breaks for June 22, 2018
TFX
Jun 22, 2018 | 12:15 EDT
UroLift, which treats enlarged prostates, continues to exceed expectations and is looking like a "growth game changer" for Teleflex, Jefferies analyst Raj Denhoy tells investors in a research note after hosting management for meetings. Feedback on UroLift continues to support the notion that the 40% growth outlook baked in for this year could prove conservative, the analyst adds. He believes growth is coming from existing practices, which he notes are seeing increased patient volumes. Further, strength in a number of product areas supports Teleflex's outlook for 4% core growth, Denhoy adds. He remains confident that the shares will hit $375 by 2020. The analyst keeps a Buy rating on Teleflex with a $305 price target. The stock in midday trading is up $2.72 to $282.34.
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