UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Alphatec Holdings on Strong 4Q Sales

In a report published Friday, Jefferies reiterated its Buy rating on Alphatec Holdings

, and slightly raised its price target from $2.00 to $2.50. Jefferies noted, “Alphatec posted strong 4Q sales of $52.7mn, about $4.5mn over our price. The stronger close to '12 sets the stage for positive growth in '13 as the company shifts to the execution phase of their new strategy, with a handful of new product launches and a continued focus on execution. We maintain our Buy rating.” Alphatec Holdings closed on Thursday at $1.63.