Tela Bio price target lowered to $12 from $15 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Tela Bio to $12 from $15 and keeps an Overweight rating on the shares following the Q4 report. Management initiated 2024 sales guidance of just below 30%, which is conservative given the sales force is righted at this point, the analyst tells investors in a research note. The firm has confidence that 2025 and 2026 “can be further inflections on the topline.” It continues to believe Tela has a highly differentiated mesh technology that will capture meaningful share in the coming years.