Integra LifeSciences price target raised to $26 from $21 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Integra LifeSciences (IART) to $26 from $21 and keeps a Hold rating on the shares. The company’s Q3 revenue and earnings per share beat on Codman Specialty Surgical outperformance, though management lowered the top end of its fiscal 2024 revenue and EPS guidance on additional “master plan” ship holds, the analyst tells investors in a research note. The firm believes the setup is in place for profitable growth should quality improvement efforts emerge faster, or impact revenues at a lower rate. Still, while Q3 was a step in the right direction, it will require multiple quarter of execution for Truist to get more conviction in estimate upside, the analyst adds.