NuVasive downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo analyst Vik Chopra downgraded NuVasive (NUVA) to Equal Weight from Overweight with a price target of $57.72, up from $47.00. On February 9, the company announced an agreement to combine with Globus Medical (GMED) in an all-stock transaction, the analyst tells investors in a research note. Wells Fargo does not think that any of the larger spine players will be interested in bidding for NuVasive as most previous spine deals have been unsuccessful, and thinks the deal is unlikely to fall through.