Lake Street lowered the firm’s price target on Tela Bio (TELA) to $6 from $8 and keeps a Buy rating on the shares. Tela Bio’s Q4 results were significantly below expectations on unexpected sales force turnover due to aggressive external recruiting, and guidance was below expectations as Tela rebuilds the sales organization, the analyst tells investors in a research note. The firm recommends buying shares on the weakness.
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Read More on TELA:
- Tela Bio price target lowered to $7 from $12 at Canaccord
- Tela Bio price target lowered to $7 from $12 at Citizens JMP
- TELA Bio’s Hold Rating: Challenges in Sales Force Turnover and Financial Outlook
- Tela Bio downgraded to Neutral from Overweight at Piper Sandler
- TELA Bio’s Strategic Shift to Biologics and Future Growth Potential Amidst Challenges