Jefferies Remains Positive On NUVA, Lowers PT To $34 From $36

Despite near-term challenges and uncertainty in the spine market, Jefferies said that it remains positive on the NuVasive, Inc.

story and believe the stock should reward long-term investors. “We rate the shares Buy,” Jefferies writes. “NUVA released preliminary earnings this evening exceeding guidance for 2010 and narrowed 2011 revenue guidance to 10-12% from 10-20%. The company is presenting at an investor conference on Tuesday and should provide further detail.” Jefferies has lowered its PT on NuVasive to $34 from $36. NuVasive closed Monday at $26.44.