BofA analyst Travis Steed lowered the firm’s price target on Zimmer Biomet (ZBH) to $110 from $135 and keeps a Neutral rating on the shares. Zimmer’s tariff exposure, which the firm estimates at an annualized $250M-$320M, or 3%-4% of revenue, was higher than expected given China. The second half ramp just got steeper in investors minds, adds the analyst, who estimates Zimmer needs a 10-110 basis point comp adjusted second half acceleration to get to 4%-5% 2025 growth.
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Read More on ZBH:
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