Avita Medical price target lowered to $12.50 from $15 at TD Cowen

TD Cowen lowered the firm’s price target on Avita Medical (RCEL) to $12.50 from $15 and keeps a Buy rating on the shares. Avita reiterated its 2025 guidance despite reporting Q1 sales shy of Street expectations, notes the analyst, who contends that the next few quarters will be “a critical period” for key new growth drivers to gain traction.