Truist Securities Downgrades Treace Medical Concepts Inc (TMCI) to Hold

Truist Securities analyst Richard Newitter downgraded Treace Medical Concepts Inc (NASDAQ: TMCI) from Buy to Hold with a price target of $7.00 (from $17.00).

The analyst comments "We downgrade TMCI to Hold from Buy on a reduced growth outlook & projected deceleration trend in 2Q24/2024 due to increasing competitive dynamics that we fear are potentially structural in nature & could make it hard for the growth trajectory (and stock) to sustainably rebound. Even at current depressed val. levels we have a hard time recommending new money in the name w/out better visibility that: (a) 4Q24 new prod launches can re-accelerate growth in the face of slowing Lapiplasty growth trends (unlikely before '25+); (b) the slower growth outlook doesn't derail TMCI's march towards profitability; and (c) no more cuts are coming."

For an analyst ratings summary and ratings history on Treace Medical Concepts Inc click here. For more ratings news on Treace Medical Concepts Inc click here.

Shares of Treace Medical Concepts Inc closed at $11.12 yesterday.

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