Teleflex (TFX) PT Raised to $298 at Needham & Company

Needham & Company raised its price target on Teleflex (NYSE: TFX) to $298.00 (from $293.00) while maintaining a Buy rating.

Analyst Mike Matson commented, "TFX hosted its biennial analyst day in New York City on Friday, 5/11. The meeting highlighted TFX's key growth opportunities including coated catheters, emergency medicine, interventional procedures, percutaneous laparoscopy, and men's health as well as its international businesses. TFX also provided an updated financial outlook for 2019-2021 that was mostly in line with consensus. The sole exception was organic growth, which, as we anticipated, was slightly lower than consensus. We think TFX remains an attractive long-term story given its accelerating revenue growth, room for further margin improvement, and healthy cash flow than can be deployed for additional growth and EPS-accretive M&A."

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