Halister News

(Bloomberg) -- GM presented Greenlight’s dividend share idea to the rating agencies “fully and fairly,” the automaker said in a statement.

• “Any suggestion to the contrary is baseless and irresponsible”
• Earlier, Greenlight Says GM Misled Rating Agencies
• NOTE: March 28, GM Snubs Einhorn Dividend Share Proposal, Cites Rating Risk 

--ANTONY SGUAZZIN

(Bloomberg) -- Globus Medical rises as much as 4.9% to a record high after Leerink analyst Richard Newitter upgraded to outperform from market perform and raised PT $40 from $29, saying the company is set to stage its strongest growth rebound yet.

• Sees negative-to-positive growth transition in 1H, with a return to double-digits in 2H and 2018
• Estimates 14% of organic rev. growth acceleration for 4Q16-2Q18 period
• Sees a return to growth for the company’s "core spine" division and $10m incremental rev. contribution in 2H from new product areas like robotics and trauma
• Says co.’s EV/Ebitda multiple is below those of peers despite a much higher margin profile
• Notes the stock has seen two major growth acceleration periods previously but the ensuing re- acceleration should also be steeper
• Stock has 5 buys, 7 holds, 1 sell, avg PT $30: Bloomberg data
• Shares rose ~24% YTD, while the S&P 500 health equipment index gained 13%

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Sebastian Silva