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Fly News Breaks for July 13, 2016
WMGI
Jul 13, 2016 | 04:58 EDT
Piper Jaffray analyst Matt O'Brien upgraded Wright Medical to Overweight saying the likelihood of a "massive, near-term payout" with regards to the company's ongoing hip litigation is "modest." The analyst believes the recent convertible offering should be the last capital raise and that the company's business remains strong. He views the risk/reward as favorable at current share levels and keeps a $23 price target for the stock.
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