UPDATE: BMO Capital Markets Upgrades Tornier to Outperform Ahead of Q3 Earnings

BMO Capital Markets raised its rating on Tornier

from Market Perform to Outperform with a reiterated $23 price target. BMO Capital Markets noted, "As we prepare for the 3Q12 earnings, and look in to 2013, we are upgrading shares of TRNX to OUTPERFORM from MARKET PERFORM, given lowered expectations, a stock that has not recovered after its 2Q12 miss (down 12.9% versus a 6.1% rise in the S&P 1500 HC E&S index since August 7, 2012), and favorable extremities market growth dynamics." Tornier closed at $10.05 on Monday.