Piper Sandler analyst Matt O’Brien raised the firm’s price target on Zimmer Biomet to $135 from $130 and keeps a Neutral rating on the shares. Zimmer Biomet reported Q4 results that beat expectations on the top- and bottom lines, and 2023 revenue and EPS guidance appears conservative, translating into a good setup for this year, the analyst tells investors in a research note. Upside to numbers for the year likely exists, but the firm prefers other large cap names.
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- Zimmer Biomet sees FY23 adjusted EPS $6.95-$7.15, consensus $6.98
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