Citi analyst Joanne Wuensch downgraded Integra LifeSciences to Sell from Neutral with a price target of $23, down from $30. The company delivered a better than expected quarter, but then talked down estimates with the implementation of a compliance master plan, which includes a ship hold on certain products, the analyst tells investors in a research note. The firm says the ship hold is expected to negatively impact revenue in Q3. This is “not the news we wanted as Integra bumps along towards manufacturing resolution,” contends Citi.
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