NuVasive downgraded to Neutral from Buy at Citi

Citi analyst Joanne Wuensch downgraded NuVasive (NUVA) to Neutral from Buy with a price target of $52, down from $63. The analsyt cites the pending acquisition by Globus Medical (GMED) for the downgrade. Shares of Globus fell significantly on the news over concerns that spine mergers have historically been very difficult to execute upon to extract the expected synergies, as well as the "FTC gauntlet," the analyst tells investors in a research note. Citi does not anticipate a white knight bid for NuVasive.