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Establishment Labs initiated with a Hold at Needham

Needham initiated coverage of Establishment Labs (ESTA) with a Hold rating and no price target The company’s U.S. Motiva launch should serve as a “major growth driver” and a potential source of upside while its minimally invasive procedures may expand the breast implant market, the analyst tells investors in a research note. However, the firm says Establishment’s international business has been weak, and that it worries the trade war could weigh on its international growth.

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