NeuroPace price target raised to $13 from $9 at Morgan Stanley

Morgan Stanley analyst Drew Ranieri raised the firm’s price target on NeuroPace to $13 from $9 and keeps an Equal Weight rating on the shares. The initial FY24 outlook implying 12-18% growth “optically might have fallen short of buy-side expectations,” particularly after the run shares have had year-to-date, but the firm sees initial FY24 growth “more in the 20%s” on an underlying basis and says there were “no real 4Q surprises.”