Avita Medical price target raised to $3.50 from $3 at Lake Street

Lake Street raised the firm’s price target on Avita Medical (RCEL) to $3.50 from $3 and keeps a Hold rating on the shares. Debt refinancing was “a necessary step to remove near-term liquidity concerns,” says the analyst, who thinks full Q4 results and commentary around reimbursement trends could provide incremental confidence into the outlook, but stays at Hold as the firm waits to see business stabilization.