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Piper Sandler has upgraded Teleflex (NYSE:TFX) to overweight, citing expected EPS growth in 2025.
The investment bank said it believes UL sales in physician’s offices “are starting to find a bottom” and that “the franchise will be less of a revenue headwind starting in 2025.” It also sees the company benefitting from IABP “challenges” at Getinge and Barrigel becoming a “significant” revenue generator.
“With some of the earnings pressures easing next year and a modest valuation of less than 14x ‘25E on a P/E basis, we believe now is the time to upgrade the stock,” the analysts added in their note.
Piper set its price target at $245.