Stifel lowered the firm’s price target on Orthofix to $14 from $16 and keeps a Hold rating on the shares. The company’s Q3 results were “more-than-respectable,” with results approximating the firm’s top-line estimates and exceeding on EBITDA, the firm tells investors. FY23 revenue guidance was cut, but, with likely still-persisting uncertainty, a more-conservative outlook is prudent, Stifel adds.
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