UPDATE: Benchmark Initiates Tornier NV with Buy, $31 PT

Benchmark initiates a Speculative Buy rating and a price target of $31 on Tornier NV

. Benchmark notes, "We believe that TRNX is a market leader in the fast growing extremity market. We believe that TRNX has the number two position worldwide for sales of shoulder joint replacement products as measured by revenue. In addition, we believe that TRNX held the number one market position by revenue in the United States in foot and ankle joint replacement systems." TRNX closed at $24.17 a share yesterday.