Inspire Medical price target raised to $265 from $220 at UBS

UBS raised the firm’s price target on Inspire Medical to $265 from $220 and keeps a Buy rating on the shares. Inspire’s strong Q4 results should restore confidence in sustained adoption momentum ahead after the first quarterly miss in the company’s public history in Q3, the analyst tells investors in a research note. The only incremental “surprise” is management’s guidance for sustainable profitability in 2H24, timing that exceeds expectations and should be received positively, UBS says.