Truist analyst Richard Newitter raised the firm’s price target on Integer (ITGR) to $163 from $147 and keeps a Buy rating on the shares. The firm is adjusting its estimates by removing the Electrochem business from its historical modeling in 2023 and the first half of 2024 as this business was sold on October 31, the analyst tells investors in a research note. Truist is also rolling forward its valuation framework to 2026 from 2025 and assumes no changes to the multiple used.
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Read More on ITGR:
- Integer price target raised to $145 from $130 at Citi
- Integer resumed with an Overweight at Wells Fargo
- Ultralife completes acquisition of Electrochem Solutions for $50M in cash
- Integer completes sale of Electrochem business to Ultralife
- Integer price target raised to $140 from $125 at Piper Sandler