Integer price target lowered to $90 from $103 at Argus. Argus analyst Jasper Hellweg lowered his price target on Integer to $90 to reflect the 20% decline in its stock price over the past quarter but also kept his Buy rating and boosted his FY19 EPS view by 11c to $4.29, saying the recent weakness offers an "attractive entry point." The analyst notes the company's execution of its multi-year turnaround strategy "optimizing its portfolio, product line, and operations" along with its investment in cardio/vascular, neuromodulation, electrochem, and portable medical markets. Hellweg also contends that while Integer's current 16.5-times forward earnings multiple is near the midpoint of its 5-year average, the stock warrants a higher valuation based on its earnings prospects and debt reduction.
