Conmed price target lowered to $57 from $70 at Wells Fargo

Wells Fargo analyst Vik Chopra lowered the firm’s price target on Conmed (CNMD) to $57 from $70 and keeps an Equal Weight rating on the shares. The firm notes that the company reported Q1 sales and EPS beats. EPS guide was raised with Q1 beat and lower FX partly offset by 14c of tariff impact. Wells expects the stock to be up given better-than-expected tariff impact.