In a report released today, Michael Matson from Needham upgraded Establishment Labs Holdings (ESTA – Research Report) to a Buy, with a price target of $48.00.
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Michael Matson has given his Buy rating due to a combination of factors including the easing of trade tensions, which alleviates concerns about Establishment Labs Holdings’ international operations. Additionally, the company’s products, Mia and Preservé, are anticipated to drive significant growth outside the United States.
Furthermore, the management’s positive outlook on the US launch of Motiva has increased confidence in its potential to contribute to the company’s growth by 2025. The upcoming investor day in New York City is also expected to serve as a positive catalyst for the stock. Lastly, the current valuation of Establishment Labs Holdings is seen as attractive given its growth prospects.
In another report released on May 8, J.P. Morgan also maintained a Buy rating on the stock with a $45.00 price target.