UPDATE: Stifel Nicolaus Initiates Teleflex at Buy

Stifel Nicolaus is out with its report today on Teleflex

, initiating TFX at Buy. In its report, Stifel Nicolaus writes, "Teleflex has several initiatives that we believe can drive top-line growth toward 5% by 2014. We view recent pricing initiatives, an increasing focus on GPO contracts, and new product introductions (namely VasoNova) as near-term revenue growth catalysts, and look to increasing R&D investment, future 'bolt-on' acquisitions, and geographic expansion as longer-term drivers." Stifel Nicolaus has a $65 PT on TFX. At the time of posting, shares of TFX were trading at $57.66, up 0.24% from Wednesday's close.