Jefferies analyst Matthew Taylor upgraded Integra LifeSciences to Buy from Hold with a price target of $53, down from $58. The analyst views the shares as oversold following the late May selloff on the back of the company’s Boston recall. The firm believes Integra’s Q2 updates on July 27 “could provide some clarity on recovery scenarios.” At this stage, the worst case is price in, which a historically low valuation reflects, the analyst tells investors in a research note. Given the company’s ability to substitute for lost products and potentially restart production in the second half of 2023, the firm upgrades the shares.
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