Teleflex (TFX) PT Raised to $177 at Leerink Partners

Leerink Partners raised its price target on Teleflex (NYSE: TFX) to $177.00 (from $151.00) while maintaining a Market Perform rating.

Analyst Richard Newitter comments "We are updating our model to reflect a stronger US dollar and plus some quick thoughts ahead of TFX’s 4Q earnings scheduled for 2/23. We increase our PT to $177 (vs. $151 prior) reflecting: (1) recent multiple expansion for the group, and (2) earnings accretion potential (~$0.50) from the recently announced Vascular Solutions (VASC) acquisition (expected to close in 1Q or 2Q17). With shares already trading near our revised PT we remain Market Perform as we think there are better investment opportunities elsewhere in our coverage universe."

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