JPMorgan analyst Allen Gong downgraded TransMedics (TMDX) to Neutral from Overweight with a price target of $75, down from $116. The company’s near-term outlook “remains less certain” as questions remain on the softness seen in Q3 and Q4, and the setup is further complicated by a back-end-loaded 2025 guidance “that looks more achievable than beatable,” the analyst tells investors in a research note. The firm thinks SMid-cap growth stories “need to demonstrate meaningful near-term upside to truly outperform,” and thus is downgrading TransMedics heading into 2025.
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