Despite near-term challenges and uncertainty in the spine market, Jefferies said that it remains positive on the NuVasive, Inc. (NASDAQ: NUVA) story and believe the stock should reward long-term investors.
“We rate the shares Buy,” Jefferies writes. “NUVA released preliminary earnings this evening exceeding guidance for 2010 and narrowed 2011 revenue guidance to 10-12% from 10-20%. The company is presenting at an investor conference on Tuesday and should provide further detail.”
Jefferies has lowered its PT on NuVasive to $34 from $36.
NuVasive closed Monday at $26.44.