Tela Bio price target lowered to $2 from $4 at Canaccord

Canaccord lowered the firm’s price target on Tela Bio (TELA) to $2 from $4 and keeps a Buy rating on the shares. The firm said they posted decent Q4 results with 18% growth just missing the firm’s estimates. Canaccord is resetting its top line expectations as again providing TELA with a more conservative growth expectation going forward, while both recent up-sized debt capacity and equity raised are important additions given this lowered top-line guidance.