UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Wright Medical Group Following BMTI Acquisition

In a report published Wednesday, Jefferies reiterated its Hold rating on Wright Medical Group

, and raised its price target from $21.00 to $24.00. Jefferies noted, “Wright closed its acquisition of BMTI on March 1; we are updating our model to reflect the transaction. While the addition of BMTI's Augment, should it be approved, will accelerate growth for WMGI, there remain questions on the sustainability of extremities growth, recon stabilization, and cash flows.” Wright Medical Group closed on Tuesday at $24.37.