Loop Capital analyst Jason Wittes raised the firm’s price target on Zimmer Biomet to $140 from $125 but keeps a Hold rating on the shares. The company’s Q4 results topped expectations thanks to continued procedure recovery, innovation and favorable comps offset by FX headwinds, the analyst tells investors in a research note. Zimmer Biomet’s 3%-5% constant currency revenue growth outlook for FY23 and modest leverage despite the continued supply and inflationary pressures suggest a "strong start for the year", the firm added, though it prefers to keep "powder dry" with a neutral rating.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ZBH:
- Zimmer Biomet price target raised to $130 from $120 at Canaccord
- Zimmer Biomet price target raised to $137 from $135 at Truist
- Zimmer Biomet price target raised to $145 from $133 at Baird
- Zimmer Biomet price target raised to $135 from $130 at Piper Sandler
- Zimmer Biomet sees FY23 adjusted EPS $6.95-$7.15, consensus $6.98