tiprankstipranks
The Fly

Globus Medical upgraded to Buy from Neutral at BTIG

Globus Medical upgraded to Buy from Neutral at BTIG

BTIG analyst Ryan Zimmerman upgraded Globus Medical to Buy from Neutral with a $60 price target. At the stock’s current valuation, the reward is greater than the risk, potential downside is limited, and with seven months in the rear-view mirror since the NuVasive deal was consummated, management “has had time to retire deal risk,” the analyst tells investors in a research note. The firm says Globus Medical is going into fiscal 2024 in a “healthy” spine market and can begin to capitalize on cost synergies. BTIG sees a better EBITDA margin trajectory emerging over the coming 12-18 months.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on GMED:

Questions or Comments about the article? Write to editor@tipranks.com