Alphatec price target raised to $22 from $19 at Needham

Needham raised the firm’s price target on Alphatec to $22 from $19 and keeps a Buy rating on the shares. The company’s 2027 long-range-plan, or LRP, outlined at its investor day presentation yesterday was above consensus, the analyst tells investors in a research note. Alphatec has also dropped its framework of dropping through 10% of revenue upside to adjusted EBITDA, and given this, the company should be able to beat and raise on both the top and bottom lines over its 2027 LRP, Needham added.