Teleflex (TFX) PT Raised to $190 at Leerink Partners But Remains Sidelined

Leerink Partners analyst Richard Newitter reiterated an Market Perform rating and raised its price target on Teleflex (NYSE: TFX) to $190.00 (from $183.00) as TFX's 2Q demonstrated significant operating leverage off of a small revenue beat.

"Still we remain on the sidelines as we believe the premium multiple already gives TFX credit for its current growth profile and operating initiatives," the analyst said.

The firm's '16E rev is unchanged at $1.88B, but they increase EPS to the top end of guidance at $7.32 (vs. $7.21 prior) and continue to think that upside is likely in 2H16.

For an analyst ratings summary and ratings history on Teleflex click here. For more ratings news on Teleflex click here.

Shares of Teleflex closed at $180.57 yesterday.

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