Treace Medical downgraded to Hold from Buy at Stifel

Stifel downgraded Treace Medical to Hold from Buy with a price target of $6, down from $15, citing multiple increasing competitive headwinds that the firm sees adding incremental uncertainty to the company’s near-to-long term outlook. Treace’s commercial efforts recently have been negatively-impacted by both Lapiplasty “knockoff” and minimally-invasive osteotomy competitive product headwinds, the analyst tells investors.