In a report published Friday, Jefferies reiterated its Buy rating on Integra Life-Sciences Holdings Corp. IART, and raised its price target from $43.00 to $46.00.
Jefferies noted, “Integra reported somewhat disappointing 4Q results, with all US businesses underperforming and lower profit margins relative to our model. And while the Puerto Rico FDA warning letter is certainly an unwelcome development, the company's long-term strategy for revenue growth acceleration and margin expansion is notable and 2013 guidance looks achievable. Maintain Buy.”
Integra Life-Sciences Holdings Corp. closed on Thursday at $40.34.
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