UPDATE: Bank of America Raises PO to $40 on Integra Lifesciences

Bank of America Merrill Lynch reiterates a Neutral rating on Integra Lifesciences IART and raises its price objective from $36 to $40. Bank of America Merrill Lynch comments, “Raising PO to $40 We are raising our PO on IART to $40 from $36 primarily due to the recent signs of stabilization and/or strength in IART's most important orthopedic growth markets (extremities/spine) that we have documented in recent notes on Biomet and ZMH. Additionally, IART, like many US-focused small cap device names, would benefit in a disproportionate way if the Supreme Court declares President Obama's healthcare reform law unconstitutional this week (a decision is expected Thursday 6/28).” Integra Lifesciences closed at $35.74 yesterday.