UPDATE: JP Morgan Raises PT on NuVasive from $33 to $34

J.P. Morgan has published a report on NuVasive Inc (NASDAQ: NUVA) raising the price target from $33 to $34.

In the report, J.P. Morgan wrote, "Nuvasive reported solid 2Q results Monday after the close, with revenues of $133.0M (+11.2%) coming in $500k above our estimate and $1.0M better than consensus. Encouragingly, this upside was again driven by the company's core US lumbar business, marking the second consecutive quarter of better than expected results from this segment. On the bottom line, adjusted EPS of $0.30 were a penny above both our forecast and the Street, as reduced R&D spending helped to boost earnings."

J.P. Morgan rated NuVasive a Neutral with a price target of $34.00. NuVasive closed Monday at $32.36.