UPDATE: Piper Jaffray Upgrades Greatbatch to Neutral
According to Piper Jaffray, Greatbatch (NYSE: GB) is upgraded to Neutral.
Jefferies said that it is upgrading GB from Underweight to Neutral as it believes (based on cardiology market checks) that headwinds in Cardiac Rhythm Management (50% of revenues) will begin to stabilize in 2Q12 and that should begin to benefit GB in 2H12. “We are upgrading GB from Underweight to Neutral and raising our PT to $25 from $20.”
Greatbatch closed yesterday at $25.
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