Cutera initiated with a Market Perform at William Blair

William Blair analyst Margaret Kaczor initiated coverage of Cutera with a Market Perform rating and no price target. Cutera should take share of the $13.9B esthetics industry with its redefined strategy centered on innovation and growing recurring revenue, the analyst tells investors in a research note. The company’s new acne device AviClear should drive over 50% of its growth in the next two years and represents a potential platform product, contends the firm. Blair believes the pieces are in place for a transformation toward recurring revenue and durable high-teens- plus growth, but says Cutera is still early in its transition and AviClear launch.