Establishment Labs Inc. (ESTA) PT Lowered to $58 at Mizuho

Mizuho analyst Anthony Petrone lowered the price target on Establishment Labs Inc. (NASDAQ: ESTA) to $58.00 (from $70.00) while maintaining a Outperform rating.

The analyst comments "ESTA shares were up +5% in AMC trading following its 4Q print. In our view: the stock move is reflecting: 1) the confidence around the US Motiva launch including the 4Q sales of ~$3.3mn to be followed by an expected $5.5mn contribution in 1Q while maintaining their previously announced FY2025 target of $35mn, 2) total co. FY2025 sales guidance of $205-210mn (midpoint $207.5mn) slightly ahead of Street estimate of $206.5mn, 3) OUS markets outlook positive as continued improvement in EMEA and Asia-Pacific was combined with signs of stabilization in Latin America in 4Q following prolonged weakness, 4) MIA clinics/procedures expected to double in 2025, and 5) longer-term growth drivers remains in place with Motiva breast reconstruction label submission expected later in 2025, Ergonomix2 likely in 2026, and US MIA launch by 1H2027. Channel checks continue to point to a bullish US Motiva launch. Stay OP, PT to $58 (prior $70)."

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