Globus Medical price target raised to $92 from $80 at RBC Capital

RBC Capital raised the firm’s price target on Globus Medical (GMED) to $92 from $80 and keeps an Outperform rating on the shares. The company issued robust Q3 results, delivering upside surprise of 3% and 27% in sales and EPS, respectively, the analyst tells investors in a research note. This was also the fourth consolidated quarter following the Nuvasive acquisition, and aided by management’s best-in-class execution, Globus Medical delivered the most successful spine merger in history, RBC added.