Jefferies downgraded Masimo to Hold from Buy with a price target of $121, up from $107. The analyst thinks “the worst is behind” Masimo, following a challenging 2023 that included multiple downward revisions. The company’s trends and outlook have improved, but a lot of good news is baked into the shares, the analyst tells investors in a research note. As such, the firm is moving to the sidelines based on valuation.
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