UPDATE: Jefferies Lowers PT on Zimmer Holdings from $64 to $60

Jefferies maintained a Hold rating on Zimmer Holdings (NYSE: ZMH) and lowered its price target from $64 to $60.

Jefferies wrote, “Zimmer's posted rather anemic 2Q results with sales growth of just 2% and missing both hip and knee targets. While the company points to a better 2H on new products we point to still sluggish volumes, a weaker Europe, and worsening price as offsetting factors. We stay at Hold with a PT of $60.”

Zimmer Holdings closed at $58.72 on Thursday.

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