Goldman Stays At Convicion Buy On Sirona Dental Systems

Goldman Sachs is staying at Conviction Buy after meeting with Sirona Dental Systems, Inc. SIRO management. It has a $66 price target on shares. In a note to clients, Goldman writes, "On June 17 we held investor meetings with Sirona where overall the tone was upbeat, especially around the positive impact expected in 2HFY11 and FY2012 from the International Dental Show (IDS) held in March and new product launches. While management reiterated is view for evenly distributed sales growth in the back-half of FY2011, we regard this expectation as conservative given the momentum in key categories. On a macro level, Sirona commented that markets are stable to showing some signs of improvement – consistent with what we have heard from other dental manufactures/distributors." Shares of SIRO lost 29 cents on Friday to close at $50.87, a loss of 0.57%.