Canaccord upgrades Globus Medical with merger uncertainty priced in

Canaccord upgraded Globus Medical (GMED) to Buy from Hold with an unchanged price target of $67. The shares have traded down 30% since the February 9 merger announcement, which "more than captures a worst-case scenario" and the uncertainty related to the integration of NuVasive (NUVA), the analyst tells investors in a research note. The firm’s due diligence suggests the merger is "likely a sound long-term strategy for all parties involved." As such, the pullback in the shares creates a buying opportunity for long-term investors, contends Canaccord.