CONMED Shares Initiated With Buy At Deutsche Bank

In a report published Monday, analysts at Deutsche Bank initiated coverage of

with a price target of $63. The company's execution capabilities are expected to improve following the appointment of its new CEO and several other experienced executives. The underperformance of the company over the past few years incited shareholder activism, in response to which the company has made changes to its Board, while appointing a new Chairman, CEO and other executives. This, the analysts believe would lead to shareholder value being created with a greater strategic focus on commercial execution, "which in turn should improve the underlying fundamentals." The company is expected to be able to execute on its goals during 2015, while bringing about an improvement in EBITDA growth and underlying sales. Acceleration opportunities exist for the company in the remainder of 2015. "Looking longer term, we believe revenue growth can accelerate into the mid-single digits and with EBITDA margin expansion, we expect double digit EPS growth," the analysts added.