Inspire Medical price target lowered to $236 from $278 at KeyBanc

KeyBanc lowered the firm’s price target on Inspire Medical to $236 from $278 post Q on lower valuation, while keeping an Overweight rating on the shares. The firm was encouraged with profitability upside, following Q2 revenue preannouncement, and several positive company-specific updates. The price target reduction is more backward-looking, KeyBanc says, to reflect a more appropriate multiple in context of growth expectations.