Globus Medical price target lowered to $53 from $58 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Globus Medical to $53 from $58 and keeps a Hold rating on the shares. The company’s first post-merger quarter was “less messy” than it could have been, though all eyes now shift to 2024, where focus will be on Globus Medical’s ability to execute on synergy goals, the analyst tells investors in a research note. Sustained near-term stock upside likely remains limited without greater visibility into these goals being hit, the firm adds.