Nevro price target lowered to $33 from $39 at RBC Capital

RBC Capital lowered the firm’s price target on Nevro to $33 from $39 but keeps an Outperform rating on the shares. The company’s Q2 revenue topped the prior guided range but its FY23 outlook was reduced to reflect its salesforce reorganization, the analyst tells investors in a research note. Nevro has indicated that it could take up to six months to begin to see traction, and given the reset, the stock is likely set up for a beat and raise as the year progresses, RBC added.