RBC Capital analyst Shagun Singh lowered the firm’s price target on Globus Medical (GMED) to $95 from $101 and keeps an Outperform rating on the shares. The company issued Q1 results that missed expectations due to softer Enabling Technology deal closures, temporary integration-related supply chain disruption, and timing of distributor orders, the analyst tells investors in a research note. RBC adds however that the post-earnings decline is an over-reaction, recommending buying on weakness.
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