Inspire Medical Systems (INSP) PT Raised to $60 at RBC Capital
RBC Capital analyst Shagun Singh raised the price target on Inspire Medical Systems (NYSE: INSP) to $60.00 (from $45.00) while maintaining a Sector Perform rating.
The analyst commented: "Strategic Growth Plan is a Good Step, But Visibility Remains Limited; Our View: INSP delivered a Q2 beat/raise with revenue of $201MM (down 7.6% y/y) ahead of cons/$195MM and adj. OM of 1.6% vs. a guided operating loss, sending the stock up ~15% on growth plan and disciplined P&L management. INSP narrowed full-year coding impact ($120-130MM from $120-150MM), and announced growth reinvestment via Project Horizon that includes effective cost management, but volume recovery remains murky with 2027 growth opportunities impacted by coding headwinds. We believe limited forward visibility combined with today's post market sharp stock move likely encapsulates near-term improvement, keeping us on the sidelines. Maintain Sector Perform/raise PT to $60."