SNN - Living La LivaNova Once More: Shakeup Pays In Capital Gains

• LivaNova Plc continues its excellent turnaround story that commenced in October 2020, since 2.2% owner Prime Capital LLP's scathing letter.
• Shareholders have enjoyed +65% upside from this point until today, and the technical picture corroborates more upside on the charts.
• We are looking for a pullback to key support zones identified in our studies as Covid-19 headwinds remain, evidenced in Q12021 earnings.
• The company reported mixed results across the quarter, although saw sequential gains in market cap and EV.
• Normalised P/E of 65x FY2021 EPS estimates and normalised EV/EBITDA of 29x FY2021 EBITDA forecasts sees a price target of $105.

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