Stifel lowered the firm’s price target on Inspire Medical (INSP) to $250 from $350 and keeps a Buy rating on the shares. The stock has been hit hard on GLP-1 concerns over the past several months and while a beat and raise quarter “may not provide an all clear” given that Eli Lilly’s (LLY) SURMOUNT-OSA data is expected in March or April 2024, the firm believes Q3 revenue upside and a 2023 raise “should be good enough” for a near-term bounce in shares, the analyst tells investors in a 10-Q/10-K review note.
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