UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Teleflex on Good 4Q Results
In a report published Friday, Jefferies reiterated its Hold rating on Teleflex (NYSE: TFX), and raised its price target from $64.00 to $82.00.
Jefferies noted, “TFX reported a slightly better 4Q with revenues about $2mm higher and a $0.03 EPS beat. On the plus side for TFX, the pathway to achieving its high five goals is now clearer and greatly enhanced with LMA. However, the company may be stuck in neutral for a while as the cost structure is further rationalized and convertible features in cap structure lead to higher dilution. Story coming together but we remain at Hold on full valuation.”
Teleflex closed on Thursday at $77.62.
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