Truist analyst Richard Newitter lowered the firm’s price target on Inspire Medical to $340 from $363 but keeps a Buy rating on the shares. The company’s weight loss drug overhang is unlikely to resolve overnight and could linger, but with the stock nearing 5-year trough valuation levels, a lot of uncertainty related to GLP-1 agonist drugs is already priced into the stock, the analyst tells investors in a research note. Truist believes that investors will continue to gravitate back towards Inspire Medical over time, especially following broad-based sector pullbacks that have served as good buying opportunities in the past.
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