IntriCon price target raised to $70 from $65 at Stifel

Stifel analyst Jonathan Block raised his price target on IntriCon (IIN) to $70 from $65 by assigning what he called “relatively conservative sales multiples” to his forecasts for the company’s Medical and Hearing businesses, but he also contends that margin expansion will play an important part to IntriCon’s story in the coming years, giving the stock a path toward $100 per share. Block, who believes IntriCon’s traction with Medtronic (MDT) gives it a long runway for growth, keeps a Buy rating on the shares.

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