Establishment Labs initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Establishment Labs with an Overweight rating and $75 price target. The analyst says the company has a “comprehensive portfolio” of breast implants under its Motiva brand, supported by “differentiated” clinical data and a competitive profile that have supported its success in the $2B breast augmentation and reconstruction markets. The firm sees “multiple paths to growth” for Establishment with major near-term catalysts like the impending launch of Motiva in the U.S. and China, two of the largest markets by volume and dollars for breast augmentation and reconstruction.