RBC Capital raised the firm’s price target on Zimmer Biomet to $140 from $134 and keeps an Outperform rating on the shares as part of a broader research note previewing MedTech for 2024. The company views GLP-1s as a near-term tailwind and not a major headwind in the long term because many patients are too obese to have implant procedures, so if GLP1s lower BMIs, it would bring more patients back into the funnel, the analyst tells investors in a research note.
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