UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Sirona Dental Systems Following F4Q14 Earnings

In a report published Tuesday, Credit Suisse analyst Glen Santangelo reiterated an Outperform rating on

, and raised the price target from $90.00 to $100.00. In the report, Credit Suisse noted, “Following SIRO's F4Q14 earnings we have revisited our financial model. Our latest assumptions incorporate initial F15 guidance, the recent sales & margin momentum, product launches, and the FX headwinds in F15. We are adjusting our F15-F16 EPS estimates to $3.99 and $4.35 from $4.06 and $4.44, respectively. Additionally, we are introducing our F17 EPS estimate of $4.74. Our updated PT of $100 (from $90) implies shares can trade at roughly 24x our C15 estimate of $4.10.” Sirona Dental Systems closed on Monday at $86.98.