Carlsmed price target lowered to $18 from $20 at Truist

Truist lowered the firm’s price target on Carlsmed (CARL) to $18 from $20 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in MedTech. The firm expects Q1 performances to be in line or better than what feels like an anxious investor sentiment around Q1 volumes, the analyst tells investors in a research note. Given the company’s faster top-line and higher gross margin profile however, the firm believes that the stock’s higher multiple is justified relative to the average group, Truist added.