Zimmer Biomet price target lowered to $120 from $134 at Citi

Citi analyst Joanne Wuensch lowered the firm’s price target on Zimmer Biomet to $120 from $134 and keeps a Neutral rating on the shares as part of a Q2 earnings preview for the U.S. medical technology space. While Citi anticipates that investors will “continue to lean into quality names that have consistently beat and raised,” with the significant reset in valuations across the group there is “opportunity across the cap stack,” the analyst tells investors in a research note.