By Maddie Sorenson
Greatbatch (NYSE: GB) has recently received a number of price target changes and ratings updates
:
- 8/29/2015 – Greatbatch had its “buy” rating reaffirmed by analysts at KeyBanc.
- 8/28/2015 – Greatbatch had its price target raised by analysts at KeyBanc from $63.00 to $71.00. They now have an “overweight” rating on the stock.
- 8/28/2015 – Greatbatch had its price target raised by analysts at Craig Hallum from $62.00 to $70.00. They now have a “buy” rating on the stock.
- 8/24/2015 – Greatbatch was downgraded by analysts at Zacks from a “buy” rating to a “hold” rating. According to Zacks, “Greatbatch’s second-quarter 2015 results were hurt by foreign exchange headwinds, which may continue to impact sales going ahead. Higher investments in R&D, unfavorable product mix and lower volumes will continue to affect margins and profits at least over a couple of quarters going ahead. However, manufacturing efficiencies as well as the integration of CCC Medical Devices capabilities and customers into the organization will prove to be accretive to earnings. Moreover, the proposed QiG Group spin-off will help the company focus on its business, which is a positive in our view.”
