Nevro price target lowered to $10 from $11 at Truist

Truist lowered the firm’s price target on Nevro to $10 from $11 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in the MedTech sector. Across the market cap, there continues to be crowding in the strongest growth stories with a widening performance and valuation gap between “haves” and “have nots”, but while this could create some profit-taking, dips in these names will get bought if fundamentals are moving in the right direction, the analyst tells investors in a research note. For Nevro, Truist is modeling a roughly in-line Q2 on revenue, which could be enough for shares to move up as long as Q3 is guided in-line with CNS and its full-year guidance is maintained, the firm added.