Stephens raised the firm’s price target on Teleflex to $315 from $305 and keeps an Overweight rating on the shares after the company announced the acquisition of Palette Life Sciences for $600M and a potential $50M earnout. With a growing market of 288,000 prostate cancer patients in 2023, established reimbursement, and “only one existing competitor,” the firm believes this is “an attractive opportunity” for Teleflex and expects this acquisition to bolster the company’s growth profile, the analyst tells investors.
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