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Fly News Breaks for December 19, 2019
ZBH
Dec 19, 2019 | 09:19 EDT
Needham analyst Mike Matson raised his price target on Zimmer Biomet to $187 and kept his Strong Buy rating, saying the stock is his "top pick for 2020". The analyst believes that the company's product cycle can drive further revenue growth acceleration next year - with his bull case growth of as high as 4%-5% in the back half of 2020 - beating consensus expectations and expanding its earnings multiple. Over the longer term, Matson believes that Zimmer can boost its margins as its earnings power increases "significantly".
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