Argus upgraded Zimmer Biomet to Buy from Hold with a $150 price target. The company has a tailwind from favorable population demographics as replacement knee and hip joints will aid the mobility and quality of life for the aging populations in the advanced economies of Asia, Europe and North America, the analyst tells investors in a research note. Zimmer’s long-term objective is to deliver revenue growth above market by 100 to 200 basis points and an EPS growth above revenue, the firm states, adding that it expects the company’s management to highlight its growth strategy and new products at its 2024 Investors Day on May 29th.
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