Bovie Medical resumed with an Overweight at Piper Jaffray. Piper Jaffray analyst Matt O’Brien resumed Bovie Medical with an Overweight rating and a price target of $8 after the company’s business update call today regarding the completed divestiture of its core franchise, saying the company now intends to invest the proceeds in its J-Plasma sales channel. O’Brien notes that this is a “correct” strategic decision in spite of the uncertainty regarding the company’s financials in the coming quarters, adding that revenue growth will likely be “considerable” in 2019 and 2020. The analyst recommends that risk-tolerant investors begin to accumulate positions in the stock.
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