Vericel price target raised to $29 from $25 at Truist

Truist analyst Samuel Brodovsky raised the firm’s price target on Vericel to $29 from $25 but keeps a Hold rating on the shares as part of a broader research note previewing Q4 earnings in MedTech. The initial positive stock move in reaction to MACI Arthroscopic Program performance and the company’s positive addressable market updates has faded more recently, and the firm is looking for increased visibility around revenue acceleration from NexoBrid, which could be a late 2023 catalyst for Vericel, the analyst tells investors in a research note.