Stifel analyst Mathew Blackman lowered the firm’s price target on Alphatec to $16 from $19 and keeps a Buy rating on the shares. Q2 revenue and EBITDA were modestly ahead of expectations and 2024 revenue and EBITDA guidance were both raised by the Q2 outperformance, but “bear narratives will persist” and the firm argues that “it’s clear ATEC won’t get credit until cash turns positive,” which it sees coming in Q4.
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