UPDATE: Stifel Nicolaus Raises PT to $76 on Sirona Dental Systems Following Omnicam Survey
Stifel Nicolaus maintained Sirona Dental Systems (NASDAQ: SIRO) with a Buy rating and raised the price target from $72.00 to $76.00.
Stifel Nicolaus said, "[W]we surveyed 106 U.S. dentists, of which 95 are active CEREC providers. Our findings focus on Sirona's Omnicam, U.S. patient volumes and any impact on dental equipment from year-end tax purchasing. … Investors are excited about Omnicam's near-term positive impact on new CEREC users. Today's work shows there are additional catalysts that lurk around the corner, notably the Omnicam upgrade cycle. Sirona remains one of favorite names."
Sirona Dental Systems closed at $68.82 on Tuesday.
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