UPDATE: Credit Suisse Raises PT on Zimmer Holdings on 1Q13 Estimates

In a report published Friday, Credit Suisse analyst Bruce Nudell reiterated a Neutral rating on Zimmer Holdings ZMH, and slightly raised the price target from $79.00 to $80.00. In the report, Nudell noted, “We model 1Q13 sales/EPS of $1.146B (1.7% CC)/$1.40 in line with consensus. For FY 2013 we are modeling sales/EPS of $4.6B (4.2% CC)/$5.74 (+8.3%) which puts us at the high end of ZMH's guidance range of 2.5-4.5% CC top line growth in 2013. Our estimates assume an acceleration in growth in the back half of the year driven by new product launches, most notably of the Persona knee in the US and key OUS markets and also a benefit from 2 extra selling days in the US in Q2 and Q3 (which reverse the 2 fewer selling days in key markets in 1Q).” Zimmer Holdings closed on Thursday at $75.25.