Citi Reiterates Hold on Integra Lifesciences Holdings

Citi reiterated its Hold rating on Integra Lifesciences Holdings IART after a meeting with the company's management. In a research report published today, Citi states, "With expectations of 5-7% rev growth and low to mid single digit EPS growth, 2011 is an investment year. Beyond 2011, we expect the company to return to +6-8% revs and low double-digit EPS growth. Maintain our Hold rating as single-digit EPS growth for 2011 is adequately reflected in our 16x P/E multiple, and while mgmt has been executing, we prefer other medtech/tools stocks that are already delivering double-digit EPS growth." At the moment, Citi has a price target of $54 placed on the company's stock. On Monday, Integra added 1.32% to its value to close the day at $46.21.