UPDATE: Citigroup Raises PT to $60 on Zimmer Holdings on Valuation

Citigroup reiterated its Sell rating on Zimmer Holdings

but raised its price target from $55 to $60 on higher comparative valuation. Citigroup noted, "Our target price rises from $55 to $60 on: 1) a higher peer group valuation since our last target price update on July 27 and 2) our higher 2013/2014 EPS forecasts. We continue to believe ZMH should trade at a large discount to its peer groups due to a lack of differentiation in challenged markets." Zimmer Holdings closed at $63.55 on Friday.