Myomo price target raised to $9 from $7 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Myomo (MYO) to $9 from $7 and keeps a Buy rating on the shares. Last week’s capital raise will provide $17.3M in gross proceeds, which will be channeled into the business, with direct incremental investments into advertising spend, manufacturing capacity, and the initial build of the O&P channel, the analyst tells investors in a research note. These investments should have a meaningful effect on growth in 2025 and beyond, the firm says.