New Trade for January 22nd, 2024

In the midst of the market’s bullish turn, there’s a tech stock that’s catching the eye of experts: Enovis Corporation (ENOV). UBS analyst Danielle Antalffy has spotlighted Enovis with a ‘buy’ rating, seeing “significant upside potential” in its future. With a price target of $75, there’s an anticipated 25.3% rally from its recent closing price.

Enovis isn’t just any medical technology company. It’s making waves in the orthopedics market, its area of expertise. Antalffy predicts an impressive 8% organic sales compound annual growth rate through 2027 for Enovis. But that’s not all. The company also stands on the brink of “significant margin expansion,” a potential that may be currently underappreciated.

The growth drivers for Enovis extend beyond its core operations. The acquisition of LimaCorporate opens doors to international cross-selling opportunities and enhanced performance in new product launches. Antalffy believes that Enovis is set to exceed both UBS and Street estimates, thanks to its ongoing portfolio transformation, operational expenditure leverage through accelerated sales growth, acquisition synergies, and disciplined price/cost management.

In a market that’s showing renewed vigor, Enovis represents a unique opportunity for investors looking to capitalize on the tech sector’s potential.

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You could buy ENOV shares outright, but for our less risk-averse readers, considering an options trade could offer the potential for quicker, higher gains. Ready to up the ante? Trading options on ENOV could be your next bold move. Click here to learn how