InMode price target lowered to $32 from $33 at Barclays

Barclays analyst Matt Miksic lowered the firm’s price target on InMode to $32 from $33 and keeps an Overweight rating on the shares. The analyst increased 2023 estimates in-line with the Q4 beat, and lowered estimates in 2024 and beyond in-line with management’s below consensus 2024 sales guidance. The firm views the stock’s EBITDA trading multiple as largely discounting much of the risk facing the company.