Envista price target lowered to $19 from $22 at BofA

BofA analyst Michael Cherny lowered the firm’s price target on Envista to $19 from $22 and keeps a Buy rating on the shares. Headline Q2 results were impacted by “multiple one-time or temporary items which overshadow modest progress in the core business,” contends the analyst, who continues to see a favorable risk/reward profile and increased the multiple applied to the firm’s estimates to reflect better visibility with new management in place.