Envista price target raised to $23 from $18 at Evercore ISI

Evercore ISI raised the firm’s price target on Envista to $23 from $18 and keeps an Outperform rating on the shares. Following recent conference commentary and the start of rate cuts, Evercore is revisiting its estimates, telling investors it has gained “further clarity and confidence in the firm’s longer-term story under the new management team.” A deeper dive into the margin dynamics within each product category of Envista’s E&C and SP&T segments gives Evercore further confidence in the margin trajectory for the company, particularly in FY25, the analyst tells investors.