Mizuho Reiterates Outperform Rating on Establishment Labs Inc. (ESTA)

Mizuho analyst Anthony Petrone reiterated an Outperform rating and $70.00 price target on Establishment Labs Inc. (NASDAQ: ESTA).

The analyst commented: "On 9/26 AMC ESTA announced that is has secured FDA market clearance for its Motiva SmoothSilk Ergonomix & Round implants in primary and revision breast augmentation surgeries. The event represents a key milestone in the company's journey toward what we believe should be a clear market-share leadership position globally over the next several years. Timing of the US Motiva clearance supports the modest contribution that we have baked into our model ($5mn for 2024E). Looking into 2025 and beyond, we see the potential for rapid US adoption given Motiva's best-in-class safety profile and lasting stigma around BI-ALCL cases linked to textured implants. Expecting shares to potentially re-rate +20-25% on positive outcome to clearing event."

For an analyst ratings summary and ratings history on Establishment Labs Inc. click here. For more ratings news on Establishment Labs Inc. click here.

Shares of Establishment Labs Inc. closed at $41.20 yesterday.

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