JPMorgan reiterated an Overweight rating on Establishment Labs, saying the firm is encouraged to see shares rallying following an apparent China approval for Motiva. JPMorgan believes the event both derisks the lowered Q3 outlook and clears the air of any concerns that the approval could be in jeopardy for seasons Wall Street is not aware of. The firm added that it would caution against immediately adding back the full $10M-$13M benefit taken out of Q4.
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Read More on ESTA:
- Establishment Labs price target lowered to $45 from $95 at BTIG
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- Establishment Labs reports Q3 EPS ($1.12), consensus (80c)
- Establishment Labs price target lowered to $80 from $110 at Mizuho
