Establishment Labs price target raised to $76 from $65 at Citi

Citi analyst Joanne Wuensch raised the firm’s price target on Establishment Labs (ESTA) to $76 from $65 and keeps a Neutral rating on the shares. The firm says this was “a straightforward quarter,” with a modest guidance raise as management ramps the pipeline. It seems that the U.S. Motiva launch and global Preserve launch are progressing in line or exceeding expectations, with the relatively benign guidance raise likely a reflection of conservatism, Citi adds. Still, with several launches still nascent and an uncertain global economy, the firm stays on the sidelines.