NuVasive price target lowered to $47 from $62 at Wells Fargo

Wells Fargo analyst Vik Chopra lowered the firm’s price target on NuVasive to $47 from $62 and keeps an Overweight rating on the shares. The analyst notes the company reported Q3 results that came in slightly below expectations on the top-line, but EPS was in-line and operating margins were actually ahead of his estimates. Nonetheless, the guidance cut across the board caught Chopra by surprise with management attributing the lowered guide primarily to FX.