Nevro price target lowered to $28 from $40 at JPMorgan

JPMorgan lowered the firm’s price target on Nevro to $28 from $40 and keeps a Neutral rating on the shares after meeting with CEO Kevin Thornal. The analyst sees a “sliver of promise” in the future but says the core spinal cord stimulation business “continues to dampen” Nevro’s recovery outlook. This will weigh on the stock for the time being, the analyst tells investors in a research note. With continued challenges to the company’s core market, it is prudent to “remain on the sidelines until we see more consistent signs of improved execution,” writes the firm.