Uncertainties In Nevro's Core Business Lead To Revised FY24 Projections By Oppenheimer Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Oppenheimer analyst Suraj Kalia has reiterated an Outperform rating on Nevro Corp. (NYSE:NVRO) with a price target of $40, despite lowering FY23 and FY24 revenue and EPS estimates due to uncertainties in the company's core business. Nevro's 2Q revenue guidance was also reduced to $106 million-$108 million.
June 06, 2023 | 6:56 pm
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Oppenheimer analyst lowers Nevro Corp's FY23 and FY24 revenue and EPS estimates due to uncertainties in core business, but maintains Outperform rating with a price target of $40.
The analyst has lowered revenue and EPS estimates for Nevro Corp due to uncertainties in its core business, which may negatively impact the stock price. However, the analyst maintains an Outperform rating with a price target of $40, suggesting potential upside in the long term. This creates a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100