UPDATE: Wunderlich Raises PT on Symmetry Medical, Revenue Growth Expected

In a report published Friday, Wunderlich Securities analyst James Terwilliger reiterated a Buy rating on Symmetry Medical, Inc. SMA, raising their price target from $10.00 to $11.00.

According to the report, “We are raising our 2014 estimates and price target for Symmetry Medical, Inc. (SMA). We are raising our 2014 revenue and adjusted EPS estimates to $417 million and $0.55 from $415 million and $0.50. Compared to our 2013 estimates, this represents 4% revenue growth and 77% adjusted EPS growth.”

Some key points from the report included:

-”We believe that revenue growth in 2014 will be driven by 6% growth in the Implant product line and 6% growth in the Cases product line.”
-”We believe that management will remain focused on reducing debt levels and we remind investors that debt has declined from $259 million at 12/31/11 to $175 currently.”
-”We believe that management will remain focused on reducing debt levels and we remind investors that debt has declined from $259 million at 12/31/11 to $175 currently.”

SMA closed Thursday at $9.77.