Piper Sandler analyst Matt O’Brien raised the firm’s price target on Procept BioRobotics to $58 from $42 and keeps an Overweight rating on the shares. The firm anticipates some concern around the political backdrop here in the U.S., but doubts med tech will be pressured regardless of who wins the Presidency. However, volumes and pricing for 2024 should be good across the sector. Piper sees little GLP related risk for the full year and anticipates 2024 will be a good year for med tech stocks.
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Read More on PRCT:
- Procept BioRobotics price target raised to $47 from $44 at Wells Fargo
- PROCEPT BioRobotics® Announces Preliminary Fourth Quarter Revenue of $43.3 million to $43.6 million
- Procept BioRobotics sees FY23 revenue $135.9M-$136.2M, consensus $133.51M
- Procept BioRobotics sees Q4 revenue $43.3M-$43.6M, consensus $40.91M
- Procept BioRobotics price target raised to $50 from $48 at Truist
