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Establishment Labs transferred with Buy rating at BTIG

BTIG reiterates a Buy rating on Establishment Labs (ESTA) with a $62 price target following a transfer of coverage. The firm views the Motiva breast implant as a “disruptive technology” that is likely to replace current implants given its “unique appearance, natural feel and impressive safety profile.” The industry has experienced relatively minimal design innovation and discouraging adverse event rates over many years, the analyst tells investors in a research note. BTIG believes Motivab s 40%-plus share in its more established markets is indicative of Establishment’s potential to capture share from entrenched players in newer markets such as the U.S. and China.

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