Glaukos price target raised to $152 from $145 at Truist

Truist raised the firm’s price target on Glaukos to $152 from $145 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results for the MedTech sector. While the firm believes that any hurricane related headwind call-outs for Q4 will generally get “a pass” from investors, it could cause companies with elective or deferrable procedure areas to see more muted guide increases, the analyst tells investors in a research note. For the stock, Truist contends that a valuation at the high-end of its peer group is warranted given a premium gross margin and the size of the total addressable markets that the company participates in.