News Column

BRIEF: Barclays ups Mazor Robotics price target 26 percent

January 23, 2014

By Hillel Koren, Globes, Tel Aviv, Israel

Jan. 23 -- Barclays Capital has raised its price target by 26 percent and revenue estimates for Mazor Robotics Ltd. (Nasdaq: MZOR; TASE:MZOR) and reaffirmed its "Overweight" recommendation for the developer of robotic navigation devices for spinal surgeries. Barclays analyst Matthew Taylor raised his target price for the share from $23 to $29 , a 14 percent upside on Mazor's closing price of $25.34 on Nasdaq on Wednesday. The share price has risen 27 percent on Nasdaq since the beginning of the year. Taylor cites Mazor's GPO agreement, the sale of seven Renaissance surgical systems during the fourth quarter of 2014, including three outside the US, above his predictions of four sales, compared with the sale of two systems in the preceding quarter. "We expect that expansion of Mazor's commercial efforts, increasing awareness of robotics in spine, and a focus on equality of care (e.g. the Affordable Care Act in the US) to act as tailwinds over the next few years," Taylor says. Taylor raised his 2015 revenue forecast for Mazor from $41 million to $45 million . ___ (c)2014 the Globes (Tel Aviv, Israel) Visit the Globes (Tel Aviv, Israel) at Distributed by MCT Information Services

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Source: Globes (Tel Aviv)

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