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Establishment Labs upgraded to Buy from Hold at Needham

Needham upgraded Establishment Labs (ESTA) to Buy from Hold with a $48 price target The firm says the easing of the trade war between the U.S. and China reduces its concern about Establishment’s international business while Mia and Preserve should become more significant growth drivers outside the U.S. Management is bullish on the U.S. Motiva launch, and Needham has increased confidence that it can be a source of upside in 2025, the analyst tells investors in a research note. The firm thinks Establishment’s upcoming investor day on June 12 is likely to be a positive catalyst for the shares. The stock’s valuation is attractive considering the company’s growth potential, contends Needham.

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