JPMorgan upgraded Zimmer Biomet (ZBH) to Overweight from Neutral with a price target of $128, up from $125. The firm sees a path to multiple expansion for Zimmer as the company “aims to get back on course following a more mixed” 2024. An improved product portfolio on top of healthy volumes and less negative pricing should support growth, while a conservative initial baseline for 2025 leaves room for upside, the analyst tells investors in a research note. JPMorgan says that while Zimmer is a multiple expansion play more than a multi-year fundamental upside investment, this could change should the slate of new product introductions in 2025 outperform on strong uptake.
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Read More on ZBH:
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- Zimmer Biomet price target lowered to $118 from $125 at Barclays
- Citi opens ‘positive catalyst watch’ on Zimmer Biomet
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- Zimmer Biomet assumed with an Equal Weight at Morgan Stanley
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