Establishment Labs Holdings: Strong Market Performance and Promising Growth Drive Buy Rating

In a report released yesterday, Josh Jennings from TD Cowen maintained a Buy rating on Establishment Labs Holdings (ESTA – Research Report), with a price target of $60.00.

Josh Jennings has given his Buy rating due to a combination of factors that highlight Establishment Labs Holdings’ strong market performance and promising growth prospects. The company’s first-quarter results were in line with expectations, showcasing a revenue increase of approximately 12%, with US Motiva sales surpassing initial guidance. This indicates a robust market entry and growing acceptance among plastic surgery centers across the United States.
Furthermore, the company has successfully onboarded over 900 accounts, with a significant reorder rate, suggesting a solid and expanding customer base. The increasing daily order volume for Motiva products reflects a positive trend that is expected to continue as more surgeons incorporate these products into their procedures. Management’s confidence in exceeding future revenue targets further supports the optimistic outlook, making the stock an attractive investment opportunity.