Needham lowered the firm’s price target on OrthoPediatrics (KIDS) to $26 from $42 and keeps a Buy rating on the shares. The company’s Q3 revenue was just above its pre-announcement and adjusted EBITDA missed consensus, the analyst tells investors in a research note. OrthoPediatrics previously indicated that it now expects revenue growth of over 12% over the next few years, and while this is conservative and leaves room for potential upside, the firm is lowering its price target given its lower revenue growth forecasts, Needham added.
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