Avita Medical price target raised to $12 from $9 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Avita Medical (RCEL) to $12 from $9 and keeps a Neutral rating on the shares after Q3 results. While there are several growth drivers looking to next year, Piper remains cautious on the near-term outlook and thus remain on the sidelines, it told investors in a research note.