NuVasive price target lowered to $50 from $60 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on NuVasive to $50 from $60 and keeps an Overweight rating on the shares. The company reported a "mixed update" on its Q3 conference call as management lowered the mid-point of the organic revenue growth outlook slightly without providing a clear rationale as well as moderating profitability metrics largely due to currency, O’Brien tells investors in a research note. However, the underlying business is doing relatively well, and if investors can look through the non-fundamental pressures on the name, earnings in 2024 "should be good," says the analyst.