Neuronetics price target lowered to $7 from $8 at Canaccord

Canaccord analyst William Plovanic lowered the firm’s price target on Neuronetics (STIM) to $7 from $8 and keeps a Buy rating on the shares. The firm said they reported a Q2 beat driven by Clinic/Greenbrook revenue. Management reiterated its revenue guidance but brought down its Ggross margin guidance in light of Clinic revenue becoming a bigger mix of the business.