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Fly News Breaks for March 29, 2017
WMGI
Mar 29, 2017 | 08:50 EDT
Wells Fargo analyst Larry Biegelsen says he's received several investor questions after the Financial Times last week reported on speculation that an orthopedic company may be looking to acquire Wright Medical. Wright's strong underlying fundamentals as well as CEO Bob Palmisano's track record of selling companies is fueling investor speculation of a potential takeout, Biegelsen tells investors in a research note. He upped his price target range for the shares to $35-$36 from $31-$32, and adds that a buyout would provide upside to this range. The analyst keeps an Outperform rating on Wright Medical. He expects the company to beat and raise throughout 2017.
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