Roth MKM initiated coverage of Enovis with a Buy rating and $75 price target. Following its transformation to a MedTech pure play after spinning out its industrials business, Enovis has successfully integrated higher growth orthopedic businesses to complement and leverage its rehab business, the analyst tells investors in a research note. Its acquisition of Lima could boost 2024 revenue potential over the $2B mark, and is supportive of sustainable high single-digit topline growth potential, and at least 50bp of adjusted EBITDA margin improvements, the firm contends.
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