Envista price target lowered to $19 from $20 at Morgan Stanley

Morgan Stanley analyst Erin Wright lowered the firm’s price target on Envista (NVST) to $19 from $20 and keeps an Equal Weight rating on the shares. New medium-term guidance calls for more tempered topline growth and “notably lower implied margin targets,” the analyst tells investors. While stating that new management is “clearly taking a prudent approach,” the firm adds that the guidance does imply a dental market recovery.