Market Overview

UPDATE: Cantor Fitzgerald Raises PT to $60 on Sirona Dental Systems on Products, Margin Strength

Related SIRO
Earnings Scheduled For August 8, 2014
Can Edwards Lifesciences (EW) Surprise Q2 Earnings Estimates?

Cantor Fitzgerald reiterated its Buy rating on Sirona Dental Systems (NASDAQ: SIRO) and increased its price target from $57 to $60.

Cantor Fitzgerald noted, "With the recent launch of CEREC Omnicam, we highlight BUYrated Sirona as our top mid-cap medtech pick and raise our target from $57 to $60. While challenges exist (currency, Europe, near-term gross margin pressure), we view Omnicam as a game-changing technology that we believe will spark a new product cycle and drive broader adoption in this vastly under-penetrated market. Despite its recent strength (+23% since July 31 vs. +2% for the S&P), SIRO still trades at a slight discount to its peer group. With a market-leading new product and a likely return to positive operating leverage and double-digit EPS growth in 2013, we think a premium is warranted."

Sirona Dental Systems closed at $53.13 on Wednesday.

Posted-In: Cantor FitzgeraldAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (SIRO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters