03:25 AM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We adjust our target price by $3 to $27, implying 15.2x our 2024 earnings per ADS, below comparable peer average of 22x to reflect its lower margin. SNN reiterated its full-year 2024 guidance despite posting a rather mixed Q1 trading update. Q1 2024 underlying revenue grew 2.9% Y/Y, driven by Orthopedics (good growth outside the U.S. but with continued weakness in the U.S. Hip and Knee Implants) and Sports Medicine & ENT (supported by product launches), while Advanced Wound Management was impacted by the volatility of SANTYL . Overall, we expect new launches and productivity improvements from its 12-Point Plan to support growth going forward, but we are also mindful of the headwinds from the volume-based procurement within the Sports Medicine segment as well as the weakness in the U.S. Hip and Knee Implants.