Truist analyst Richard Newitter lowered the firm’s price target on Nevro to $5.50 from $10 and keeps a Hold rating on the shares. The company is considering “strategic alternatives” vs. continuing as a standalone company as its core spinal cord stimulation market growth slows to low single digits, the analyst tells investors in a research note. After the Q2 miss and the significant guideance reduction, shares are trading below tangible book value of about $5.70/share, the firm added.
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