Stifel analyst Rick Wise lowered his price target for Zimmer Biomet to $135 from $150 after revisiting his Buy thesis. In a research note to investors, Wise says that he remains confident in his long-term Buy thesis, and believes management will continue to execute on critical turnaround initiatives in 2019, driving steadily-improving top-line results and facilitate continued, substantial debt pay-down. He sees significant value in shares at current levels.
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