Barclays lowered the firm’s price target on InMode (INMD) to $24 from $29 and keeps an Overweight rating on the shares. Slowing U.S. consumer demand and higher interest rates continue to drag on demand for new consoles and while management has not assumed any improvement in U.S. trends in its outlook, the company indicated that evidence of further deterioration in Q2 growth trends would likely prompt potential adjustments to full-year sales guidance, the analyst tells investors. However, the firm believes uncertainty related to the timing for improving consumer demand is largely discounted, the analyst added.
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