Jefferies analyst Matthew Taylor downgraded InMode to Hold from Buy with a price target of $19, down from $21. The analyst expects the aesthetics market environment to remain challenging due to macro pressures. InMode continues to struggle to bring increased demand for its new platforms which could impact the second half of 2024, the analyst tells investors in a research note. Given a tough setup, the firm sees risks to the company’s 2024 guidance and consensus estimates in both 2024 and 2025. It sys these views are supported by its U.S. plastic surgeon survey.
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