Fly News Breaks for March 2, 2020
Mar 2, 2020 | 07:36 EDT
Raymond James analyst Lawrence Keusch upgraded Masimo to Outperform from Market Perform with an $183 price target. In a research note to investors, Keusch says that with Masimo down around 8% last week, he believes investors should begin to accumulate the shares due to the company's greater insulation from COVID-19 disruption on a relative basis vs. other companies in his hospital supply coverage universe. Although Masimo did not benefit from COVID-19 in China due to limited share, should the virus spread in Europe and the U.S., the company could see a small net positive impact to revenues, Keusch says. He views Masimo as one of the best growth stories in his universe, though he admits that valuation is not inexpensive.
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