Envista initiated with an Underperform at Mizuho

Mizuho analyst Steven Valiquette initiated coverage of Envista (NVST) with an Underperform rating and $20 price target As a diverse dental/orthodontic manufacturer, Envista has absorbed the same soft global dental end-markets as its peers in 2023 and 2024, the analyst tells investors in a research note. However, the firm believes the company’s greater mix of specialty products and digital imaging has played a role in its greater EBITDA and earnings drop-off this year. It thinks the expected improvement under the new CEO is already priced into Envista shares.