Conmed upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded Conmed to Overweight from Sector Weight with a $124 price target. With the "warehouse disruption" likely behind the company, investor focus can now shift to Conmed’s improving financial profile, driven by an inflecting multi-year organic revenue growth and accelerated gross margin trajectory, the analyst tells investors in a research note. The firm says management appears confident in sustained low double-digit organic growth once recent acquisitions annualize.