Needham raised the firm’s price target on RxSight to $41 from $35 and keeps a Buy rating on the shares. The firm cites the company’s better than expected Q4 pre-announcement and above-consensus outlook for FY24, stating that utilization improved meaningfully both on an annualized and sequential basis, indicating continued penetration across RxSight’s installed base, the analyst tells investors in a research note. RxSight should be able to continue to progress towards profitability, the firm added.
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