CVRx price target raised to $18.50 from $14 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on CVRx to $18.50 from $14 and keeps an Overweight rating on the shares. The company’s preannounced Q4 sales beat Piper’s estimate but its sales guidance for fiscal 2023 came in below expectations, O’Brien tells investors in a research note. However, CVRx’s margins are expected to come in better than estimates, says the analyst, who continues to see "meaningful value creation ahead" for the company.