Avita Medical price target raised to $23 from $18.50 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Avita Medical to $23 from $18.50 and keeps an Overweight rating on the shares after the company reported Q2 revenue that beat expectations and raised revenue guidance by about $2M at the midpoint of the new range. The “outlook is bright at Avita on several fronts,” contends the firm, which continues to recommend investors purchase the shares.