UPDATE: Goldman Sachs Downgrades Sirona Dental Systems to Neutral on Limited Upside
Goldman Sachs downgraded Sirona Dental Systems, Inc. (NASDAQ: SIRO) from Buy to Neutral and announced a $67.00 price target.
Goldman Sachs commented, "We downgrade SIRO to Neutral from Buy as we see limited upside to our $67 12-month price target. While we still like SIRO's product cycle story, we expect 1HFY13 growth to be challenged by Omnicam supply constraints and are below consensus for both FY1Q and FY2Q. Moreover, at 19X consensus CY13 estimates, we believe valuation already reflects a full 2HFY13 Omnicam rollout and the expected contribution from this year's International Dental Show (IDS)."
Sirona Dental Systems closed at $66.80 on Monday.
Latest Ratings for SIRO
|Dec 2014||Credit Suisse||Maintains||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.