Morgan Keegan Reiterates Market Perform Rating on Teleflex (TFX)

Morgan Keegan is out with a research report this morning, where it reiterates its Market Perform rating on Teleflex Inc. TFX; it has a $63.00 price target on the stock. The MK analysts said that, on a recent conference call with management, Teleflex gave an update on its business, with their takeaway being that management remains focused on becoming a pure healthcare company with a focus on divestiture of non-core assets. The analyst also noted that they expect the company to engage in acquisition activity to bolster the core medical device business. Management also outlined their margin expansion plans, which are in the near-term driven by divestitures and cost-cutting initiatives. The MK analysts are remaining on the sideline until the possibility of earnings dilution passes from the divestitures of non-core assets.