Integer price target lowered to $133 from $145 at KeyBanc

KeyBanc analyst Brett Fishbin lowered the firm’s price target on Integer (ITGR) to $133 from $145 to reflect lower industry/peer multiples, while keeping an Overweight rating on the shares. The firm still sees runway for sustained “market + at least 200 bps” of organic growth, with some potential upside, supported by steady mid-single digit underlying market volume growth; its specific focus on shifting investment spending to high growth areas, including neuromodulation, structural heart, neurovascular, and EP; and strengthened relationships with customers.