UPDATE: BMO Capital Raises Price Target for Wright Medical Group on Renewed Focus

In a report published on Friday, BMO Capital Markets analyst Joanne K. Wuensch raised the price target on Wright Medical Group

to $31 from $26 and reiterated an Outperform rating. In the report, BMO Capital Markets noted, "On its own, without Augment (which is not in our model), we believe WMGI can trade at 4.0x-4.5x 2014E EV/revenue, or a price target range of $29-$32. Augment could add another $4-$5 to our price target, based on a DCF basis analysis. Thus, we are increasing our PT to $31 from $26". Wright Medical Group closed on Friday at $27.20.