Conmed Has Potential For Multiple Beat: and-raise quarters, says JPM

Conmed

22/12/2021 12:13

** J.P. Morgan is confident in medical tech co's  CNMD.N 
ability to deliver solid growth across the top and bottom lines
due to COVID headwinds heading into 2022
    ** "Management's more conservative guidance heading into the
new year isn't unexpected, but we see potential for multiple
beat-and-raise quarters if the recovery comes faster than
anticipated" - JPM
    ** Brokerage believes CONMED can return to a margin profile
stronger than pre-COVID-19, continuing on its trajectory of over
50-100 basis points of operating margin expansion annually
    ** JPM holds "overweight" rating, with PT of $165; Wall St.
bullish on CNMD, with 5 of 6 analysts rating it "buy" or higher
    ** Stock trades ~18% upside to median PT of $160; YTD, stock
has gained ~22%

 (Reporting by Pavithra S; Additional reporting by Karina Dsouza
in Bengaluru)
 ((Karina.Dsouza@thomsonreuters.com))