UPDATE: JP Morgan Raises PT to $20 on NuVasive; 2013 Outlook Likely Conservative
JP Morgan maintained NuVasive (NASDAQ: NUVA) with a Neutral rating and raised the price target from $17.00 to $20.00.
JP Morgan noted, "After taking into account expected contributions from both the PCM cervical disc ($3-5M) and Japan ($10M), where Nuvasive recently launched, management's $655M forecast implies growth of just 3-4% from the company's base business. This strikes us as overly conservative, coming on the heels of a better-than-feared 4Q performance, and likely reflects management's desire to set a low bar following three straight years of volatile performance from the business."
NuVasive closed at $17.27 on Monday.
Latest Ratings for NUVA
|Dec 2014||Brean Capital||Reiterates||Buy|
|Nov 2014||Wells Fargo||Upgrades||Market Perform||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.