Teleflex price target raised to $235 from $219 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Teleflex to $235 from $219 but keeps a Hold rating on the shares. The firm is “incrementally more constructive” on the stock in light of the company’s share gain opportunity following a competitor’s IABP, or Intra-Aortic Balloon Pump Therapy, FDA action, the analyst tells investors in a research note. As the #2 IABP player in a duopoly, Teleflex likely stands to benefit from some competitive account conversions, though the firm remains at neutral while looking for “more sustainable/durable growth catalysts” for Teleflex, Truist added.