NuVasive's (NASDAQ:NUVA) Dropping of NeuroVision Brand Name Not Major Impact

With the dropping of NeuroVision brand by NuVasive (NASDAQ:NUVA), it's not expected to have a major impact on the company, says Canaccord.

They noted, "We believe the removal of the NeuroVision brand name will be a small bump in the road for NuVasive rather than a major obstacle. We note that the official injunction and payment were anticipated and communicated in Q4/10...We are maintaining our price target at $21.00 based on a 14.8x P/E multiple applied to our cash/non-GAAP 2012 EPS estimate of $1.44."

Canaccord Genuity maintains a "Hold" rating on NuVasive, which closed Monday at $26.44, gaining $0.67, or 2.60 percent. Canaccord has a price target on them to $21.