Teleflex price target raised to $240 from $235 at Truist

Truist raised the firm’s price target on Teleflex to $240 from $235 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in the MedTech sector. Across the market cap, there continues to be crowding in the strongest growth stories with a widening performance and valuation gap between “haves” and “have nots”, but while this could create some profit-taking, dips in these names will get bought if fundamentals are moving in the right direction, the analyst tells investors in a research note. For Teleflex, Truist notes that stabilizing Urology segment results would be viewed favorably against the backdrop of a share gain tailwind looming from a competitor recall, the firm added.