SVB Leerink analyst Richard Newitter raised his price target for Zimmer Biomet to $160 from $155, saying Zimmer represents an attractive turnaround story at a compelling valuation and is one of his favorite large-cap picks, especially as revenue growth acceleration looks set to start taking form in a more meaningful way into 2020-2021. Newitter says the company's quarterly performance, plus management's commentary that it sees a pathway for acceleration beyond 2%-3% for 2020 without the need for M&A increases his confidence in an upward estimate revision bias towards his above-consensus out-year estimates. The analyst keeps an Outperform rating on the shares.