NEW YORK (AP) ¿ Shares of Zimmer Holdings Inc. fell Tuesday after a UBS analyst downgraded the orthopedic implant maker, saying he does not think its sales growth will recover in 2009.

Analyst Bruce Nudell lowered his rating to "Neutral" from "Buy." He said Zimmer's sales are growing, but won't fully recover until U.S. unemployment is stable.

Over the next three years, the company will regain U.S. sales that were lost because of the recession, he said. But he does not expect overseas sales to "catch up" the same way.

Nudell said he expects Zimmer will have to spend more money to get new products to the market because of increased regulatory scrutiny. Future product introductions could slow down due to greater demands by the Food and Drug Administration, he said.

Nudell holds a share price target of $56 on the Kalamazoo, Mich.-based company. The stock slipped $1.39, or 2.7 percent, to $51.06 in afternoon trading.

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