AtriCure price target lowered to $42 from $50 at Stifel

Stifel lowered the firm’s price target on AtriCure to $42 from $50 and keeps a Buy rating on the shares after the company reported Q4 revenue in-line with the January 8 pre-announcement and also reiterated the initial 2024 $459M-$466M revenue outlook. Incremental 2024 competitive pressures, “real or imagined,” could remain an overhang until several quarters of positive performance play-out, but the firm contends that AtriCure still offers a diversified and comprehensive portfolio of cardiac and thoracic surgeon focused atrial-arrhythmia treatment products.