UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Sirona Dental Systems on Raised Forecasts
In a report published Monday, Jefferies reiterated its Buy rating on Sirona Dental Systems (NASDAQ: SIRO), and raised its price target from $71.00 to $80.00.
Jefferies noted, “SIRO's fiscal-1Q13 (Dec) adj. EPS of $0.94 dusted the consensus view (+$0.09) on modest core revenue upside and dramatically better profitability. We are raising our FY13 EPS forecast to $3.45 (from $3.40) on the 1Q13 dynamic. Our price target moves to $80 (from $71) on higher cash flow forecasts.”
Sirona Dental Systems closed on Friday at $69.47.
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