Piper Jaffray Met With NuVasive Management And Came Away 'Still Confident'

Loading...
Loading...
In a report published Thursday, Piper Jaffray analyst Matt O'Brien maintained an Overweight rating on
NuVasive, Inc.
NUVA
, with a price target of $56, following a meeting with the company's CFO Quentin Blackford. Mr. Blackford indicated that the departures of COO Keith Valentine and CEO Alex Lukianov have had a limited impact the business so far. "Given the fairly limited competitive choices, we do not believe the sales force at NUVA will experience significant turnover (there has been a modest increase in the number of rep positions on the company's website but management indicated that this is normal for this time of year)," analyst Matt O'Brien said. While NuVasive faced tough comps in 2Q, the Street is modeling growth of merely 5 percent, and there seems to be no major downside risk to this expectation. "There are a number of remaining revenue growth drivers we expect management to pull on this year and believe NUVA will meet or beat its $810M sales target," O'Brien added. "We believe the company's sales growth drivers remain in place and believe NUVA will meet or beat our full year revenue target. We also believe EPS at the company can exceed $2 by 2018 and we would not be surprised to see further upside materialize," the report stated.
Loading...
Loading...
Posted In: Analyst ColorReiterationAnalyst RatingsPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...