Integer price target lowered to $135 from $158 at BofA

BofA lowered the firm’s price target on Integer (ITGR) to $135 from $158 and keeps a Buy rating on the shares. Despite “strong” Q2 results and the company raising its FY25 EPS guidance by 5c at the midpoint, shares were down 8% yesterday, notes the analyst, who thinks investors were likely disappointed that Integer only narrowed its FY25 revenue guide with no change to midpoint after the Q2 beat. The firm lowers its price target as peer multiples have compressed, but highlights Integer as “a key manufacturing partner to customers in the highest growth medtech markets.”