BofA analyst Travis Steed lowered the firm’s price target on Embecta (EMBC) to $3 from $11 and keeps an Underperform rating on the shares. After having hosted 34 medtech companies last week in Las Vegas, the firm updated several price targets for “the new reality of medtech valuations” in a year of few product cycles, ACA and utilization worries, inflation kicking up post-war, and “data centers over healthcare,” the analyst tells investors.
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