Brean Capital Has Positive 4Q14 Outlook for Teleflex Incorporated

In a report published Thursday, Brean Capital analyst Jason Wittes reiterated a Buy rating and $125.00 price target on

. In the report, Brean Capital noted, "We are projecting fourth quarter Adjusted EPS of $1.39 and revenues up 5.7% to $476 million, both of which are slightly higher than consensus of $1.38 and $473 million respectively. We expect the company will beat, though FX may offset some of the upside. Our bigger concern is the FX impact in 2015, and in early January we lowered our EPS estimate to $6.20, and with consensus coming down to $6.26 from $6.40 at the beginning of the year, we think the move is largely anticipated. This still assumes they can reach 55% gross margins (which they should despite FX) by year end, and has upside if volumes uptick. Reiterate our Buy rating and $125 target price." Teleflex Incorporated closed on Wednesday at $116.26.