UPDATE: Stifel Nicolaus Raises PT to $82 on Sirona Dental Systems Following Impressive FQ1
Stifel Nicolaus maintained Sirona Dental Systems (NASDAQ: SIRO) with a Buy and raised the price target from $71.00 to $80.00.
Stifel Nicolaus noted, "We point to several variables for our bullish stance: (1) Sirona's clear leadership position in the CAD/CAM market; (2) An Omnicam offering that in the near term should help accelerate new user adoption, with an upgrade cycle that will likely follow in FY14 and beyond; (3) A 3D opportunity which reveals high physician interest; and (4) Increasing financial leverage as years of past investment (notably SG&A) will likely begin to yield benefits to the bottom line."
Sirona Dental Systems closed at $72.81 on Friday.
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