UPDATE: Wunderlich Securities Initiates Coverage on Symmetry Medical with Buy Rating, $10 PT on Attractive Entry Point

In a report published Wednesday, Wunderlich Securities analyst James Terwilliger initiated coverage on Symmetry Medical SMA with a Buy rating and $10.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of Symmetry Medical, Inc. (SMA) with a Buy rating and a twelve month price target of $10.00. Our price target represents 20x our adjusted 2014 EPS estimate of $0.50. Symmetry Medical is a leading independent provider of orthopedic implants, surgical instruments, and cases to global orthopedic device manufacturers. SMA also has a proprietary line of surgical products within their Symmetry Surgical business line and sells these products directly to hospitals. Our 2014 revenue and adjusted EPS estimates are $415 million and $0.50, respectively. This represents 4% revenue growth and 61% adjusted EPS growth compared to our 2013 estimates. We believe that SMA is a turnaround story and the stock's current level offers an attractive entry point.” Symmetry Medical closed on Tuesday at $8.29.