Integer initiated with an Outperform at Raymond James

Raymond James analyst Andrew Cooper initiated coverage of Integer (ITGR) with an Outperform rating and $145 price target Integer is a contract development and manufacturing organization poised for continued growth, capitalizing on the shift in focus to areas like cardio and vascular, cardiac rhythm management, and neuromodulation that are “in the midst of innovation cycle benefits,” the analyst tells investors. Risks around insourcing and customer concentration are “more than reflected in the current valuation, which under-appreciates the double-digit growth in profitability,” the analyst added.