Shares of Zimmer Holdings Inc. traded higher Monday after a Sanford Bernstein analyst upgraded the orthopedic implant maker, saying a series of new product launches should lead to a recovery in revenue and share price.
Analyst Derrick Sung said new products, including two knee implants launched last year and two hip products that will reach the market in late 2009, will boost Zimmer's profits. He thinks the Kalamazoo, Mich., company will regain some market share, and expects improvement for the orthopedic market overall.
Sung upgraded the shares to "Outperform" from "Market Perform," and raised his price target to …
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