Teleflex price target raised to $135 from $125 at RBC Capital

RBC Capital raised the firm’s price target on Teleflex (TFX) to $135 from $125 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q1 results for MedTech names. The firm notes that its intra-quarter due diligence suggests strong fundamentals and stable end markets, with no demand disruption in sight. RBC also believes that the current sentiment-driven dislocation is unwarranted, creating attractive opportunities across the landscape both into Q1 earnings season and longer-term. For the company, the firm notes that Teleflex has upside to earnings and creates value as it utilizes about $1.8B in net proceeds towards repurchases and debt repayment, though it is a “show-me story” beyond that until new leadership is found, and it executes on that stated strategy.