Treace Medical price target raised to $8 from $6.60 at Truist

Truist raised the firm’s price target on Treace Medical (TMCI) to $8 from $6.60 and keeps a Hold rating on the shares following the company’s investor day. The event featured three new product launches that will expand the portfolio to address all classes of MIS bunion surgery including two MIS Osteotomy solutions and Speedplate MTP, according to the firm. These new products should strengthen the company’s position in the growing MIS osteotomy market where Treace Medical has had gaps, Truist told investors. The firm reiterates a Hold rating pending greater confidence new rollouts can sustain accelerated double-digit growth trends beyond “easy” comps and that Treace Medical won’t see growth stall out when competitors launch products.