InMode initiated with a Buy at UBS

UBS analyst Danielle Antalffy initiated coverage of InMode with a Buy rating and $40 price target as part of a sector note on U.S. Medical Supplies and Devices. The firm is modeling mid-teens sales growth in 2023/2024 and low-teens growth thereafter, as InMode continues to benefit from what has been a sustainable boost in aesthetic procedures post-COVID, as well as solid brand recognition for its Morpheus system amongst both physicians and patients, the analyst tells investors in a research note.