Inari Medical Inc. (NARI) PT Raised to $66 at Baird

Baird analyst David Rescott raised the price target on Inari Medical Inc. (NASDAQ: NARI) to $66.00 (from $63.00) while maintaining a Outperform rating.

The analyst commented: "We think NARI should deliver another beat and raise in Q3, which at current valuation levels should be enough to push shares higher, especially considering NARI’s near-trough valuation. The stock has come under pressure post-Q2 as competitive messaging has ramped, which we don’t necessarily think is reflected in the underlying fundamentals of the business. Assuming management is able to reiterate their commitment to remain a “+20% growth” company on a beat and raise Q3 result, we think the stock’s multiple could move meaningfully higher post-Q3. That said, continued “short pressure,” may limit any sustainable multiple expansion, at least until the FY25 guide is de-risked and 1H25 positive profit goal comes closer to view."

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