UPDATE: Rodman & Renshaw Upgrades NuVasive from Market Perform to Market Outperform With a PT of $33

Rodman & Renshaw has published a research report on NuVasive NUVA upgrading the company from Market Perform to Market Outperform. In the report, Rodman & Renshaw wrote, "We are upgrading NuVasive to a Market OutPerform rating and a 12-month PT of $33. Our earlier rating was a Market Perform. Our $33 PT is derived by using a 2.4x multiple on forward sales. The medtech universe currently trades at a forward P/S multiple of about 2.9x." Rodman & Renshaw upgraded NuVasive from Market Perform to Market Outperform with a price target of $33.00. NuVasive closed Friday at $24.05.