Teleflex upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Matt O’Brien upgraded Teleflex to Overweight from Neutral with a price target of $245, up from $205. While it may take another quarter or two, Teleflex’s Urolift sales in the physician’s office will start to bottom, the analyst tells investors in a research note. The firm believes this should should lift a revenue headwind for Teleflex “that has been plaguing the company for the past three years.” Teleflex’s only competition in intra-aortic balloon catheters, Getinge, is “having significant regulatory issues with its product,” which could give Teleflex 100-200 basis points of incremental revenue growth in fiscal 2025 and beyond, adds Piper.