Truist lowered the firm’s price target on Teleflex (TFX) to $227 from $255 and keeps a Hold rating on the shares. The company’s revenue miss and guide-down overshadowed a solid Q3 earnings profit, but the stock’s post-earnings 16% selloff “felt overdone and likely exacerbated by crowded long hedgefund positioning into the print, the analyst tells investors in a research note. The shortfall on OEM revenue was due to a major customer deciding to vertically integrate a product with a meaningful revenue stream, plus an impact on orders from customers’ inventory management, Truist added.
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Read More on TFX:
- Teleflex price target lowered to $245 from $266 at Raymond James
- Teleflex price target lowered to $250 from $275 at Mizuho
- Teleflex price target lowered to $245 from $275 at RBC Capital
- Teleflex Announces Q3 2024 Financial Results
- Teleflex falls -14.1%
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