UPDATE: Morgan Keegan Raises PT on Teleflex to $60

Morgan Keegan has published a research report on Teleflex Incorporated

after the company announced its appointment of Thomas Powell as the Senior Vice President and Chief Financial Officer of the company. In the report, Morgan Keegan writes, "Teleflex announced the appointment of Thomas Powell as Senior VP and Chief Financial Officer. Mr. Powell replaces Randy Meier who left the company on March 9, 2012. Importantly, Teleflex reiterated its 2012 guidance and our conversation with management indicates that there were no operational or accounting issues that precipitated the departure of Mr. Meier. Mr. Powell has been with Teleflex for 9-months, and we expect a smooth transition throughout 2012." Morgan Keegan maintains its Market Perform rating and has raised the price target from $58 to $60 on Teleflex, which is currently trading down $0.61 from Friday's $59.42 closing price.