UPDATE: Cantor Fitzgerald Initiates Coverage on Sirona Dental Systems

According to a research report published this morning, Cantor Fitzgerald has initiated Sirona Dental Systems

with a Buy rating and $57. Cantor Fitzgerald commented, "Sirona is global leader in the fast-growing and under-penetrated CAD/CAM services and dental imaging markets, but at 12x CY 2013E EPS, it trades at a discount to the dental equipment and mid-cap medtech peers' average of 14x. When we consider the stock's valuation through the lens of the company's longterm growth profile rather than through nearer-term risk factors, we believe the stock offers an extremely compelling value at these levels." Sirona Dental Systems closed yesterday at $43.01.