Opex Continues To Improves At OFIX
Analysts at Susquehanna Financial upgrade Orthofix International NV (Nasdaq: OFIX) from "neutral" to "positive." The target price For OFIX is set to $38.
According To Susquehanna Financial, Orthofix International reported its Q4 earnings ahead of the estimates and the consensus, driven by lower than expected operating expenses. “We see further operational leverage ahead that could boost earnings in excess of 20% in 2010 following a 20% increase in 2009,” the analysts say.
“Management impressively hit a steep earnings ramp in 2009 (a ramp that initially made us somewhat skeptical) and it now appears that the company has largely completed an organizational turnaround that was set in motion in early 2008 to return the Blackstone business to growth and make the unit profitable,” the analysts add.
