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.
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