Stifel reiterates Buy on Envista stock, keeps $31 price target

Stifel has reaffirmed its Buy rating for Envista Holdings Corp. (NYSE:NVST) and maintained its price target of $31.00 following the company's 2026 Investor Day presentation. The stock is currently trading at $23.69, indicating substantial upside potential to the analyst's target. According to InvestingPro, Envista appears undervalued based on its Fair Value assessment, making it a promising opportunity among the Most Undervalued stocks list.

The company has revised its medium-term financial objectives upward compared to targets set 18 months ago at its 2025 Capital Markets Day. Management has raised expectations for its Consumables division, contributing to modest growth projections in top-line growth. Envista's Equipment & Consumables divisions are gaining market share, and management has showcased a consistent track record of exceeding targets.

Stifel made minor adjustments to its estimates, reallocating some third-quarter 2026 sales to the fourth quarter of 2026 and the first half of 2027. The firm anticipates margin expansion primarily through gross margin improvements as management continues to invest in the business. The dental products company currently maintains a robust gross profit margin of 55.42% while achieving revenue growth of nearly 12%.

Investors should keep a close eye on the Implant segment as it is likely to be the focal point moving forward.