Envista price target raised to $17 from $16 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Envista (NVST) to $17 from $16 and keeps a Neutral rating on the shares. The firm notes the company reported Q3 results, including revenue of $601M/-5.3% core that finished above Street’s $590M, while adjusted EBITDA and EPS also came in better than consensus. The company also reaffirmed its revenue and adjusted EBITDA outlook for the full year, which shouldn’t come as a surprise given the conservative approach taken by this new management team last quarter, Piper adds.