Bank of America Securities analyst Travis Steed has reiterated their bullish stance on INSP stock, giving a Buy rating on April 21.
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Travis Steed has given his Buy rating due to a combination of factors including Inspire Medical Systems’ strong financial performance and strategic initiatives. The company reported a 23% revenue growth in Q1, surpassing market expectations, and achieved a positive EPS of $0.10. This financial strength provides a solid foundation for future growth.
Additionally, the upcoming full launch of Inspire V is expected to drive further revenue increases. With manufacturing and inventory levels prepared for this rollout, the company is positioned to capitalize on market opportunities. Inspire Medical Systems is also mitigating tariff risks by expanding manufacturing capabilities in locations like Colorado and Tijuana, which supports its growth strategy. These elements contribute to the positive outlook and justify the Buy rating.
In another report released on April 21, KeyBanc also maintained a Buy rating on the stock with a $216.00 price target.