Alphatec initiated with an Overweight at JPMorgan

JPMorgan analyst Allen Gong initiated coverage of Alphatec (ATEC) with an Overweight rating and $19 price target The firm says the company has since evolved into a “differentiated pure-play” in spine with solid double-digit growth. JPMorgan sees an opportunity for Alphatec to sustain above-market growth while also beginning to grow profitability, with opportunities to continue gaining share in lumbar interbody fusion from traditional lateral and potential conversions away from posterior and transforaminal.